Insider Selling: Hans Helmerich Sells 50,000 Shares of Helmerich & Payne Stock (HP)
Helmerich & Payne (NYSE:HP) CEO Hans Helmerich unloaded 50,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $69.08, for a total transaction of $3,454,000.00. Following the completion of the transaction, the chief executive officer now directly owns 761,335 shares of the company’s stock, valued at approximately $52,593,022. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.39.
Helmerich & Payne (NYSE:HP) traded up 0.42% on Wednesday, hitting $69.09. 967,432 shares of the company’s stock traded hands. Helmerich & Payne has a 52 week low of $44.95 and a 52 week high of $71.36. The stock’s 50-day moving average is $66.22 and its 200-day moving average is $63.47. The company has a market cap of $7.357 billion and a price-to-earnings ratio of 10.13.
Helmerich & Payne (NYSE:HP) last released its earnings data on Friday, July 26th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Helmerich & Payne will post $5.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date 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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