Helmerich & Payne (NYSE:HP) Director Hans Helmerich Sells 94,470 Shares of Stock

Helmerich & Payne, Inc. (NYSE:HP) Director Hans Helmerich sold 94,470 shares of Helmerich & Payne stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $878,000. The trade was a 82.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Helmerich & Payne Trading Down 2.5%

Shares of HP stock opened at $42.45 on Tuesday. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -30.11 and a beta of 0.61. The stock has a 50-day moving average of $35.98 and a 200-day moving average of $36.42. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. Helmerich & Payne, Inc. has a 1-year low of $18.48 and a 1-year high of $45.00.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $987.70 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Helmerich & Payne’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Helmerich & Payne, Inc. will post -0.15 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Helmerich & Payne’s dividend payout ratio is -70.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HP. Citigroup cut their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Wall Street Zen raised Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Susquehanna upped their target price on Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Morgan Stanley raised their target price on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Weiss Ratings upgraded Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.00.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors have recently made changes to their positions in HP. Aventail Capital Group LP purchased a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $5,464,000. UBS Group AG raised its position in Helmerich & Payne by 17.5% in the 4th quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock valued at $34,852,000 after buying an additional 180,638 shares during the last quarter. Corigliano Investment Advisers LLC purchased a new stake in Helmerich & Payne in the 4th quarter valued at $8,573,000. Cadence Wealth Management LLC purchased a new stake in Helmerich & Payne in the 2nd quarter valued at $1,416,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Helmerich & Payne during the 4th quarter worth $1,522,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.