Short Interest in Helmerich & Payne, Inc. (NYSE:HP) Decreases By 5.0%

Helmerich & Payne, Inc. (NYSE:HP) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 11,340,000 shares, a decline of 5.0% from the December 15th total of 11,940,000 shares. Based on an average trading volume of 1,380,000 shares, the days-to-cover ratio is presently 8.2 days. Currently, 11.9% of the company’s stock are short sold.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $36.38 on Monday. The stock’s fifty day moving average is $33.70 and its 200 day moving average is $34.19. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The stock has a market cap of $3.59 billion, a P/E ratio of 10.57, a P/E/G ratio of 4.22 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Sell-side analysts anticipate that Helmerich & Payne will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. Helmerich & Payne’s payout ratio is currently 29.07%.

Analysts Set New Price Targets

HP has been the topic of a number of analyst reports. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Royal Bank of Canada dropped their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI restated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Finally, Barclays reduced their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $39.50.

Institutional Trading of Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the company. State of New Jersey Common Pension Fund D grew its position in shares of Helmerich & Payne by 18.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock worth $1,784,000 after purchasing an additional 9,004 shares in the last quarter. Petrus Trust Company LTA purchased a new stake in Helmerich & Payne during the 3rd quarter valued at approximately $619,000. William B. Walkup & Associates Inc. purchased a new stake in Helmerich & Payne during the 2nd quarter valued at approximately $1,274,000. FMR LLC raised its position in shares of Helmerich & Payne by 510.7% during the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after buying an additional 117,624 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Helmerich & Payne by 320.2% in the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after buying an additional 151,196 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

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.