Helmerich & Payne, Inc. (NYSE:HP) Short Interest Update

Helmerich & Payne, Inc. (NYSE:HP) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 8,107,640 shares, a growth of 35.2% from the January 29th total of 5,997,108 shares. Currently, 8.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,490,719 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily trading volume, of 2,490,719 shares, the days-to-cover ratio is presently 3.3 days. Currently, 8.5% of the company’s stock are sold short.

Helmerich & Payne Trading Up 1.1%

NYSE HP traded up $0.36 during trading hours on Wednesday, hitting $34.32. 663,148 shares of the company’s stock were exchanged, compared to its average volume of 1,803,621. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03. The firm has a market capitalization of $3.43 billion, a P/E ratio of -10.76 and a beta of 0.54. The business’s 50 day moving average is $32.68 and its 200-day moving average is $27.28. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $36.73.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.Helmerich & Payne’s revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. As a group, analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is -31.35%.

Analysts Set New Price Targets

A number of brokerages have commented on HP. Piper Sandler lifted their target price on shares of Helmerich & Payne from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Helmerich & Payne in a research note on Friday, February 6th. Royal Bank Of Canada raised their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. TD Cowen upped their target price on shares of Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price target for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average price target of $36.20.

Insider Activity

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director owned 496,735 shares in the company, valued at $13,968,188.20. The trade was a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently made changes to their positions in HP. EverSource Wealth Advisors LLC raised its holdings in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,582 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Helmerich & Payne during the 4th quarter valued at $26,000. Rothschild Investment LLC increased its stake in shares of Helmerich & Payne by 1,377.8% in the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,240 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 554 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Helmerich & Payne by 184.3% in the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,187 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

About Helmerich & Payne

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.