Helmerich & Payne (NYSE:HP) Shares Gap Down Following Insider Selling

Helmerich & Payne, Inc. (NYSE:HP)’s share price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $40.63, but opened at $39.80. Helmerich & Payne shares last traded at $38.39, with a volume of 2,012,261 shares changing hands.

Specifically, VP John R. Bell sold 9,000 shares of Helmerich & Payne stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.67, for a total value of $348,030.00. Following the sale, the vice president now directly owns 81,426 shares in the company, valued at approximately $3,148,743.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John W. Lindsay sold 45,000 shares of Helmerich & Payne stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $38.61, for a total value of $1,737,450.00. Following the completion of the sale, the chief executive officer now owns 318,441 shares in the company, valued at $12,295,007.01. The disclosure for this sale can be found here. Corporate insiders own 4.17% of the company’s stock.

A number of analysts recently commented on the company. Wells Fargo & Co lowered Helmerich & Payne from an “outperform” rating to an “underperform” rating and set a $30.00 price target for the company. in a research note on Thursday, September 12th. Argus downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Morgan Stanley decreased their price objective on shares of Helmerich & Payne from $52.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, October 7th. Deutsche Bank initiated coverage on shares of Helmerich & Payne in a research note on Wednesday, November 27th. They set a “sell” rating and a $34.00 target price on the stock. Finally, ValuEngine upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $49.81.

The company has a current ratio of 2.72, a quick ratio of 2.35 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $39.36 and its 200-day moving average is $44.10. The company has a market capitalization of $4.16 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 5.00 and a beta of 1.65.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, November 14th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.14. Helmerich & Payne had a negative net margin of 1.20% and a positive return on equity of 4.68%. The company had revenue of $649.10 million during the quarter, compared to analysts’ expectations of $650.92 million. During the same period last year, the company posted $0.19 EPS. Helmerich & Payne’s revenue was down 6.8% on a year-over-year basis. Analysts predict that Helmerich & Payne, Inc. will post 0.49 EPS for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in Helmerich & Payne by 0.4% during the 2nd quarter. Comerica Bank now owns 61,802 shares of the oil and gas company’s stock valued at $3,092,000 after purchasing an additional 222 shares in the last quarter. Alpha Windward LLC raised its holdings in Helmerich & Payne by 2.7% in the 2nd quarter. Alpha Windward LLC now owns 8,716 shares of the oil and gas company’s stock worth $416,000 after acquiring an additional 226 shares during the last quarter. Securian Asset Management Inc raised its holdings in Helmerich & Payne by 2.1% in the 2nd quarter. Securian Asset Management Inc now owns 11,266 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 237 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in Helmerich & Payne by 3.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,312 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 250 shares during the last quarter. Finally, Profund Advisors LLC lifted its position in Helmerich & Payne by 3.1% in the 2nd quarter. Profund Advisors LLC now owns 8,896 shares of the oil and gas company’s stock valued at $450,000 after acquiring an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 90.50% of the company’s stock.

Helmerich & Payne Company Profile (NYSE:HP)

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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