Helmerich & Payne (NYSE:HP) SVP Cara Hair Sells 58,771 Shares of Stock

Helmerich & Payne, Inc. (NYSE:HP) SVP Cara Hair sold 58,771 shares of Helmerich & Payne stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the sale, the senior vice president directly owned 175,589 shares in the company, valued at approximately $6,430,069.18. This represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Helmerich & Payne Stock Up 1.9%

Helmerich & Payne stock opened at $37.18 on Tuesday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.65. The firm has a 50 day moving average price of $34.24 and a 200-day moving average price of $28.84. The company has a market capitalization of $3.71 billion, a P/E ratio of -11.66 and a beta of 0.54. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75.

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

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -31.35%.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in Helmerich & Payne by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,165,265 shares of the oil and gas company’s stock worth $148,141,000 after purchasing an additional 194,935 shares in the last quarter. State Street Corp boosted its stake in Helmerich & Payne by 0.8% in the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after purchasing an additional 33,193 shares during the period. American Century Companies Inc. grew its holdings in Helmerich & Payne by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock valued at $76,741,000 after buying an additional 249,425 shares in the last quarter. Invesco Ltd. increased its position in shares of Helmerich & Payne by 15.5% during the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock valued at $99,477,000 after buying an additional 465,440 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in shares of Helmerich & Payne by 4.3% during the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after buying an additional 87,882 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup upped their price target on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Morgan Stanley reissued an “underweight” rating and issued a $28.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 21st. Royal Bank Of Canada boosted their price objective on Helmerich & Payne from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, February 6th. Evercore raised shares of Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.80.

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.