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

Helmerich & Payne, Inc. (NYSE:HP) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 9,920,000 shares, a decrease of 7.3% from the January 15th total of 10,700,000 shares. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is currently 6.4 days. Currently, 10.4% of the company’s shares are sold short.

Insider Buying and Selling at Helmerich & Payne

In related news, Director Belgacem Chariag purchased 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in Helmerich & Payne during the 4th quarter valued at about $27,000. Covestor Ltd grew its stake in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares during the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne in the 3rd quarter worth about $48,000. Finally, Eastern Bank bought a new position in Helmerich & Payne in the 3rd quarter worth about $61,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 1.0 %

Helmerich & Payne stock traded down $0.26 during mid-day trading on Tuesday, reaching $26.28. The stock had a trading volume of 1,888,700 shares, compared to its average volume of 1,670,768. The stock’s 50-day simple moving average is $32.05 and its 200-day simple moving average is $33.07. Helmerich & Payne has a fifty-two week low of $25.69 and a fifty-two week high of $44.11. The firm has a market capitalization of $2.61 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 2.81.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, sell-side analysts forecast that Helmerich & Payne will post 3.11 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.80%. Helmerich & Payne’s dividend payout ratio is 32.89%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays decreased their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Argus raised Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada lowered their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.75.

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.