Insider Selling: Helmerich & Payne (NYSE:HP) SVP Sells $2,152,194.02 in Stock

Helmerich & Payne, Inc. (NYSE:HP) SVP Cara Hair sold 58,771 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Helmerich & Payne Stock Performance

NYSE:HP opened at $36.33 on Thursday. The company has a fifty day simple moving average of $34.44 and a two-hundred day simple moving average of $29.01. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -11.39 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, Inc. has a 52 week low of $14.65 and a 52 week high of $37.87.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data 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). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The firm’s revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -31.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HP. Citigroup boosted their price objective on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Piper Sandler raised their target price on shares of Helmerich & Payne from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Evercore upgraded shares of Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Friday, March 20th. JPMorgan Chase & Co. upgraded shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $34.00 in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $36.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HP. Rockefeller Capital Management L.P. lifted its stake in Helmerich & Payne by 18.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,840 shares of the oil and gas company’s stock worth $225,000 after purchasing an additional 1,200 shares during the last quarter. Dean Capital Management boosted its holdings in Helmerich & Payne by 7.5% in the fourth quarter. Dean Capital Management now owns 144,195 shares of the oil and gas company’s stock valued at $4,136,000 after purchasing an additional 10,036 shares in the last quarter. Invesco Ltd. increased its stake in Helmerich & Payne by 15.5% in 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 purchasing an additional 465,440 shares during the last quarter. Empowered Funds LLC increased its stake in Helmerich & Payne by 20.9% in the fourth quarter. Empowered Funds LLC now owns 447,310 shares of the oil and gas company’s stock valued at $12,829,000 after purchasing an additional 77,399 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Helmerich & Payne during the fourth quarter worth approximately $791,000. Hedge funds and other institutional investors 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.