Helmerich & Payne, Inc. (NYSE:HP) Sees Large Decline in Short Interest

Helmerich & Payne, Inc. (NYSE:HPGet Free Report) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 11,340,000 shares, a drop of 5.0% from the December 15th total of 11,940,000 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is presently 8.2 days.

Helmerich & Payne Stock Performance

Shares of HP opened at $36.38 on Tuesday. The company has a 50-day simple moving average of $33.69 and a two-hundred day simple moving average of $34.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The firm has a market capitalization of $3.59 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 4.22 and a beta of 1.39. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11.

Helmerich & Payne (NYSE:HPGet Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter in the prior year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Helmerich & Payne will post 3.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 29.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HP shares. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI reiterated an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Royal Bank of Canada decreased their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Barclays decreased their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and an average price target of $39.50.

Read Our Latest Report on Helmerich & Payne

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Helmerich & Payne by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after buying an additional 513 shares during the last quarter. KBC Group NV boosted its stake in Helmerich & Payne by 20.3% during the 3rd quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 529 shares during the last quarter. Covestor Ltd increased its holdings in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Helmerich & Payne by 0.4% in the third quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock worth $4,793,000 after purchasing an additional 666 shares during the last quarter. Finally, Fruth Investment Management raised its stake in shares of Helmerich & Payne by 6.3% in the third quarter. Fruth Investment Management now owns 13,425 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 800 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

(Get Free Report)

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.

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