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

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

Helmerich & Payne Trading Up 0.4%

Shares of Helmerich & Payne stock opened at $37.26 on Wednesday. The stock has a market cap of $3.72 billion, a P/E ratio of -11.68 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 12-month low of $14.65 and a 12-month high of $37.87. The business’s 50 day moving average is $34.36 and its 200-day moving average is $28.96.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $990.16 million. During the same period in the prior year, the business posted $0.71 earnings per share. Helmerich & Payne’s quarterly revenue was up 50.2% compared to the same quarter last year. Equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System increased its holdings in shares of Helmerich & Payne by 0.4% during the third quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock worth $2,203,000 after purchasing an additional 400 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Helmerich & Payne by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock valued at $653,000 after buying an additional 400 shares during the period. Arizona State Retirement System grew its position in Helmerich & Payne by 1.4% during the third quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock worth $650,000 after buying an additional 416 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Helmerich & Payne by 21.3% during the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after buying an additional 437 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $34.00 in a research note on Wednesday, December 10th. Piper Sandler boosted their target price on Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne 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.