Helmerich & Payne, Inc. (NYSE:HP) is Sourcerock Group LLC’s 8th Largest Position

Sourcerock Group LLC boosted its position in Helmerich & Payne, Inc. (NYSE:HPGet Rating) by 1,818.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 783,492 shares of the oil and gas company’s stock after purchasing an additional 742,643 shares during the period. Helmerich & Payne comprises approximately 5.0% of Sourcerock Group LLC’s investment portfolio, making the stock its 8th largest position. Sourcerock Group LLC’s holdings in Helmerich & Payne were worth $18,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake in shares of Helmerich & Payne by 334.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,087 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 837 shares during the period. Spire Wealth Management raised its holdings in Helmerich & Payne by 102.2% in the fourth quarter. Spire Wealth Management now owns 1,112 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 562 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Helmerich & Payne by 510.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,771 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 1,481 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Helmerich & Payne in the fourth quarter worth $55,000. Finally, CWM LLC bought a new position in Helmerich & Payne in the fourth quarter worth $73,000. 88.62% of the stock is owned by institutional investors and hedge funds.

HP traded up $0.21 during trading hours on Friday, reaching $51.69. 677,949 shares of the company’s stock traded hands, compared to its average volume of 1,515,838. The firm has a 50-day moving average price of $45.93 and a 200 day moving average price of $35.55. Helmerich & Payne, Inc. has a 52-week low of $20.93 and a 52-week high of $52.21. The company has a quick ratio of 2.21, a current ratio of 2.43 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $5.44 billion, a PE ratio of -28.88 and a beta of 1.75.

Helmerich & Payne (NYSE:HPGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15. Helmerich & Payne had a negative return on equity of 6.73% and a negative net margin of 12.30%. The company had revenue of $467.60 million during the quarter, compared to analysts’ expectations of $449.63 million. During the same quarter in the previous year, the business earned ($0.60) EPS. Helmerich & Payne’s revenue was up 57.9% compared to the same quarter last year. Equities analysts predict that Helmerich & Payne, Inc. will post -0.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, May 12th. Helmerich & Payne’s dividend payout ratio is -55.87%.

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Helmerich & Payne from $33.00 to $52.00 in a report on Monday, May 2nd. Benchmark initiated coverage on Helmerich & Payne in a research report on Monday, April 11th. They issued a “buy” rating and a $53.00 target price on the stock. Seaport Res Ptn raised Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note on Monday, March 14th. The Goldman Sachs Group raised their price objective on Helmerich & Payne from $36.50 to $41.00 and gave the stock a “sell” rating in a research note on Thursday, April 14th. Finally, Morgan Stanley lifted their target price on Helmerich & Payne from $29.00 to $40.00 and gave the company an “underweight” rating in a research note on Monday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and an average target price of $39.92.

In other news, Director Hans Helmerich sold 150,000 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $42.54, for a total value of $6,381,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sara Marie Momper sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $37.47, for a total value of $74,940.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 161,000 shares of company stock valued at $6,793,440. Corporate insiders own 4.35% of the company’s stock.

Helmerich & Payne Company Profile (Get Rating)

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.

See Also

Want to see what other hedge funds are holding HP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Helmerich & Payne, Inc. (NYSE:HPGet Rating).

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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