Sara Marie Momper Sells 5,054 Shares of Helmerich & Payne (NYSE:HP) Stock

Helmerich & Payne, Inc. (NYSE:HP) CAO Sara Marie Momper sold 5,054 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $44.28, for a total transaction of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Helmerich & Payne Stock Down 1.0%

NYSE HP opened at $43.77 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. The company’s 50 day simple moving average is $35.69 and its 200 day simple moving average is $36.23. Helmerich & Payne, Inc. has a 12 month low of $17.35 and a 12 month high of $45.00. The company has a market capitalization of $4.37 billion, a P/E ratio of -31.04 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 earnings per share. Equities research analysts expect that Helmerich & Payne, Inc. will post -0.12 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -70.92%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HP. Citigroup dropped their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Royal Bank Of Canada upped their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Susquehanna raised their target price on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. The Goldman Sachs Group lifted their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.50.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in HP. BlackRock Inc. bought a new stake in Helmerich & Payne in the second quarter worth approximately $513,336,000. Bank of America Corp DE bought a new position in shares of Helmerich & Payne during the 2nd quarter valued at $43,370,000. Balyasny Asset Management L.P. raised its holdings in shares of Helmerich & Payne by 174.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock valued at $30,993,000 after purchasing an additional 1,298,510 shares in the last quarter. Encompass Capital Advisors LLC lifted its stake in shares of Helmerich & Payne by 165.1% in the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after purchasing an additional 1,296,537 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Helmerich & Payne in the second quarter worth $30,606,000. Institutional investors 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.