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

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

Helmerich & Payne Stock Down 1.0%

HP opened at $42.08 on Wednesday. The company has a fifty day moving average price of $36.09 and a 200-day moving average price of $36.46. The firm has a market capitalization of $4.21 billion, a P/E ratio of -29.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. Helmerich & Payne, Inc. has a one year low of $18.48 and a one year high of $45.00.

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

Helmerich & Payne Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HP shares. Citigroup dropped their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Royal Bank Of Canada upped their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Morgan Stanley raised their target price on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, August 20th. Piper Sandler lifted their target price on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Barclays boosted their price target on shares of Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new stake in Helmerich & Payne in the fourth quarter worth approximately $26,000. Parallel Advisors LLC grew its position in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. grew its position 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 last quarter. Finally, Strs Ohio purchased a new position in shares of Helmerich & Payne during the first quarter worth approximately $101,000. 96.05% of the stock is currently owned by hedge funds and other 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.