Helmerich & Payne (NYSE:HP) Director Sells $4,147,233.00 in Stock

Helmerich & Payne, Inc. (NYSE:HP) Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $41.18 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 has a market capitalization of $4.12 billion, a PE ratio of -29.21 and a beta of 0.61. Helmerich & Payne, Inc. has a one year low of $18.79 and a one year high of $45.00. The business has a 50 day simple moving average of $36.20 and a 200 day simple moving average of $36.50.

Helmerich & Payne (NYSE:HP) last announced its quarterly 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). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter last year, the company earned $0.22 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Helmerich & Payne, Inc. will post -0.16 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend 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 presently -70.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HP shares. Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Susquehanna raised their price objective 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. Royal Bank Of Canada lifted their target price 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. Citigroup reduced their target price on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Finally, Barclays increased their price target on Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average target price of $41.00.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Helmerich & Payne by 4.4% during the first quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 4,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock worth $1,531,000 after purchasing an additional 3,611 shares during the last quarter. NewEdge Advisors LLC raised its position in Helmerich & Payne by 39,685.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 34,526 shares during the last quarter. Empowered Funds LLC lifted its holdings in Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after buying an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after buying an additional 54,758 shares in the last quarter. 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.