Helmerich & Payne (NYSE:HP) Director Hans Helmerich Sells 94,470 Shares

Helmerich & Payne, Inc. (NYSE:HP) Director Hans Helmerich sold 94,470 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Helmerich & Payne Stock Down 2.5%

Shares of Helmerich & Payne stock traded down $1.10 during midday trading on Monday, hitting $42.45. The company had a trading volume of 621,379 shares, compared to its average volume of 1,397,062. Helmerich & Payne, Inc. has a 52-week low of $18.48 and a 52-week high of $45.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The stock has a market capitalization of $4.24 billion, a P/E ratio of -30.11 and a beta of 0.61. The company has a 50 day moving average of $35.87 and a 200 day moving average of $36.37.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Helmerich & Payne, Inc. will post -0.15 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s payout ratio is currently -70.92%.

Analyst Ratings Changes

HP has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. The Goldman Sachs Group increased their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Citigroup reduced their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Finally, Susquehanna boosted their price objective on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.00.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares during the period. Leonteq Securities AG bought a new position in Helmerich & Payne in the 4th quarter worth $26,000. Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 445 shares during the period. Finally, Strs Ohio purchased a new position in shares of Helmerich & Payne in the first quarter valued at about $101,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.