Helmerich & Payne COO Sells $634,770 in Stock (HP)
Helmerich & Payne (NYSE:HP) COO John Lindsay unloaded 9,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $70.53, for a total transaction of $634,770.00. Following the sale, the chief operating officer now directly owns 87,401 shares in the company. The transaction was disclosed in a filing with the SEC, which is available at this link.
HP has been the subject of a number of recent research reports. Analysts at Barclays Capital raised their price target on shares of Helmerich & Payne (NYSE:HP) from $70.00 to $72.00 in a research note to investors on Tuesday, September 3rd. They now have an “equal weight” rating on the stock. Separately, analysts at RBC Capital downgraded shares of Helmerich & Payne (NYSE:HP) from an “outperform” rating to a “sector perform” rating in a research note to investors on Thursday, August 15th. They now have a $72.00 price target on the stock. Finally, analysts at Argus downgraded shares of Helmerich & Payne (NYSE:HP) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 12th. They noted that the move was a valuation call.
Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.39.
Shares of Helmerich & Payne (NYSE:HP) traded up 1.69% on Thursday, hitting $70.82. The stock had a trading volume of 1,427,220 shares. Helmerich & Payne has a 52 week low of $44.95 and a 52 week high of $69.88. The stock’s 50-day moving average is $65.6 and its 200-day moving average is $63.32. The company has a market cap of $7.541 billion and a P/E ratio of 10.26.
Helmerich & Payne (NYSE:HP) last released its earnings data on Friday, July 26th. The company reported $1.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.34 by $0.04. The company had revenue of $838.30 million for the quarter, compared to the consensus estimate of $844.15 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts predict that Helmerich & Payne will post $5.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, November 13th.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.
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