Helmerich & Payne, Inc. (NYSE:HP) Sees Large Decrease in Short Interest

Helmerich & Payne, Inc. (NYSE:HP) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 9,920,000 shares, a drop of 7.3% from the January 15th total of 10,700,000 shares. Based on an average trading volume of 1,540,000 shares, the days-to-cover ratio is presently 6.4 days. Currently, 10.4% of the shares of the company are short sold.

Helmerich & Payne Stock Performance

NYSE:HP traded down $0.26 during mid-day trading on Tuesday, hitting $26.28. The company’s stock had a trading volume of 1,888,700 shares, compared to its average volume of 1,670,768. The business’s fifty day moving average is $32.05 and its two-hundred day moving average is $33.07. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 3.41 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40. Helmerich & Payne has a 1 year low of $25.69 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Analysts anticipate that Helmerich & Payne will post 3.11 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.80%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is presently 32.89%.

Insider Transactions at Helmerich & Payne

In other news, CEO John W. Lindsay bought 20,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $27.55 per share, with a total value of $551,000.00. Following the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter worth approximately $27,000. Covestor Ltd lifted its holdings in Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 643 shares in the last quarter. Blue Trust Inc. boosted its stake in Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP purchased a new stake in shares of Helmerich & Payne during the third quarter worth $48,000. Finally, Eastern Bank acquired a new stake in shares of Helmerich & Payne in the third quarter valued at about $61,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HP. Barclays lowered their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Evercore ISI reissued an “in-line” rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Royal Bank of Canada decreased their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $38.75.

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.