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

Helmerich & Payne, Inc. (NYSE:HP) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 11,790,000 shares, a decline of 12.2% from the October 15th total of 13,430,000 shares. Currently, 12.4% of the company’s shares are short sold. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is currently 7.8 days.

Helmerich & Payne Stock Up 0.1 %

Shares of HP traded up $0.02 during midday trading on Monday, hitting $33.62. 1,323,658 shares of the company’s stock traded hands, compared to its average volume of 1,386,097. The company has a current ratio of 2.67, a quick ratio of 1.87 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average is $33.53 and its 200-day moving average is $35.09. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.11. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.40.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same period in the prior year, the firm earned $0.69 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Helmerich & Payne will post 3.57 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HP shares. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada lowered their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday. The Goldman Sachs Group lowered their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Citigroup lowered their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Barclays lowered their target price on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Helmerich & Payne in the 1st quarter valued at about $33,000. Covestor Ltd lifted its stake in Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 674 shares in the last quarter. Blue Trust Inc. lifted its stake in Helmerich & Payne by 127.8% in the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares in the last quarter. Quarry LP purchased a new position in Helmerich & Payne in the 3rd quarter worth approximately $48,000. Finally, Eastern Bank purchased a new position in Helmerich & Payne in the 3rd quarter worth approximately $61,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

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.