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.
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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