Short Interest in Helmerich & Payne, Inc. (NYSE:HP) Expands By 8.5%

Helmerich & Payne, Inc. (NYSE:HP) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 7,700,000 shares, a growth of 8.5% from the September 30th total of 7,100,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is presently 4.9 days. Currently, 7.3% of the company’s stock are sold short.

Shares of NYSE HP traded up $1.24 during midday trading on Friday, reaching $40.56. 3,034,740 shares of the company’s stock were exchanged, compared to its average volume of 1,499,241. Helmerich & Payne has a 52-week low of $35.74 and a 52-week high of $64.80. The stock has a market capitalization of $4.30 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 4.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.47 and a current ratio of 2.86. The business’s fifty day moving average price is $39.11 and its two-hundred day moving average price is $45.74.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 14th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.14. Helmerich & Payne had a positive return on equity of 4.62% and a negative net margin of 1.20%. The business had revenue of $649.10 million for the quarter, compared to analyst estimates of $650.92 million. During the same period in the previous year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Analysts predict that Helmerich & Payne will post 0.57 earnings per share for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.71 per share. This represents a dividend yield of 7.4%. The ex-dividend date is Thursday, November 7th. Helmerich & Payne’s payout ratio is 162.29%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Helmerich & Payne by 30.7% in the first quarter. FMR LLC now owns 308,156 shares of the oil and gas company’s stock valued at $17,121,000 after buying an additional 72,343 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Helmerich & Payne by 9.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 92,738 shares of the oil and gas company’s stock valued at $5,153,000 after buying an additional 8,308 shares during the last quarter. Park National Corp OH increased its holdings in Helmerich & Payne by 11.3% in the second quarter. Park National Corp OH now owns 39,737 shares of the oil and gas company’s stock valued at $2,011,000 after buying an additional 4,036 shares during the last quarter. Rockland Trust Co. increased its holdings in Helmerich & Payne by 14.0% in the second quarter. Rockland Trust Co. now owns 18,472 shares of the oil and gas company’s stock valued at $935,000 after buying an additional 2,267 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in Helmerich & Payne by 4.2% in the second quarter. DNB Asset Management AS now owns 14,401 shares of the oil and gas company’s stock valued at $729,000 after buying an additional 580 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on HP. Piper Jaffray Companies cut their price objective on Helmerich & Payne from $57.00 to $52.50 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley cut their price objective on Helmerich & Payne from $52.00 to $45.00 and set an “underweight” rating on the stock in a research report on Monday, October 7th. Royal Bank of Canada set a $65.00 price objective on Helmerich & Payne and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays began coverage on Helmerich & Payne in a research report on Thursday, September 26th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, ValuEngine raised Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $53.18.

Helmerich & Payne Company Profile

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.

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