Grace & White Inc. NY Buys 26,400 Shares of Helmerich & Payne, Inc. $HP

Grace & White Inc. NY boosted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 23.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 139,742 shares of the oil and gas company’s stock after purchasing an additional 26,400 shares during the period. Grace & White Inc. NY’s holdings in Helmerich & Payne were worth $2,118,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Ellis Investment Partners LLC increased its stake in Helmerich & Payne by 4.5% during the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 558 shares during the last quarter. Ridgewood Investments LLC increased its stake in Helmerich & Payne by 4.4% during the first quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company’s stock worth $350,000 after acquiring an additional 569 shares during the last quarter. Xponance Inc. increased its stake in Helmerich & Payne by 7.6% during the first quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 587 shares during the last quarter. Radnor Capital Management LLC increased its stake in Helmerich & Payne by 1.5% during the second quarter. Radnor Capital Management LLC now owns 43,674 shares of the oil and gas company’s stock worth $662,000 after acquiring an additional 630 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after acquiring an additional 852 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Down 5.9%

Shares of NYSE:HP opened at $21.87 on Friday. Helmerich & Payne, Inc. has a 52-week low of $14.65 and a 52-week high of $37.46. The stock has a market cap of $2.17 billion, a P/E ratio of -66.27 and a beta of 0.91. The business’s 50 day moving average is $20.18 and its 200 day moving average is $18.88. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Helmerich & Payne’s revenue was up 49.2% compared to the same quarter last year. Sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.00 annualized dividend and a yield of 4.6%. Helmerich & Payne’s dividend payout ratio is -303.03%.

Analysts Set New Price Targets

HP has been the topic of several analyst reports. Zacks Research raised Helmerich & Payne to a “hold” rating in a research note on Monday, August 11th. TD Cowen upped their target price on Helmerich & Payne from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Tuesday, August 19th. Barclays set a $25.00 target price on Helmerich & Payne and gave the company an “overweight” rating in a research note on Monday, September 22nd. Piper Sandler upped their target price on Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Finally, Citigroup upped their target price on Helmerich & Payne from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $24.20.

Insider Transactions at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the transaction, the chief accounting officer owned 21,908 shares of the company’s stock, valued at $390,619.64. This represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.51% of the stock is currently owned by company insiders.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.