Helmerich & Payne (NYSE:HP) Director Sells $2,109,000.00 in Stock

Helmerich & Payne, Inc. (NYSE:HP) Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the transaction, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. The trade was a 13.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Helmerich & Payne Trading Up 1.1%

NYSE:HP traded up $0.31 on Monday, hitting $28.25. The stock had a trading volume of 1,230,857 shares, compared to its average volume of 1,879,780. The company has a fifty day moving average price of $26.88 and a two-hundred day moving average price of $21.50. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $37.30. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -16.92 and a beta of 0.56.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.27). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. Equities research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Helmerich & Payne’s dividend payout ratio is currently -59.88%.

Institutional Trading of Helmerich & Payne

Hedge funds have recently modified their holdings of the stock. Mirabella Financial Services LLP acquired a new position in Helmerich & Payne during the 3rd quarter worth $228,000. CIBC Bancorp USA Inc. acquired a new position in shares of Helmerich & Payne during the third quarter worth about $228,000. Tcfg Wealth Management LLC grew its position in shares of Helmerich & Payne by 85.9% during the third quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock worth $2,075,000 after buying an additional 43,412 shares in the last quarter. Tweedy Browne Co LLC increased its stake in shares of Helmerich & Payne by 105.7% during the third quarter. Tweedy Browne Co LLC now owns 26,389 shares of the oil and gas company’s stock worth $583,000 after buying an additional 13,563 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Helmerich & Payne during the third quarter worth approximately $118,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on HP shares. TD Cowen upped their target price on shares of Helmerich & Payne from $27.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group upgraded shares of Helmerich & Payne from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $28.00 in a report on Thursday, November 20th. Susquehanna increased their price objective on shares of Helmerich & Payne from $26.00 to $31.00 and gave the stock a “positive” rating in a research report on Wednesday, November 19th. Citigroup boosted their target price on Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Barclays upped their price target on Helmerich & Payne from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $31.20.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.