Helmerich & Payne, Inc. (NYSE:HP) Sees Significant Growth in Short Interest

Helmerich & Payne, Inc. (NYSE:HP) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 12,720,000 shares, an increase of 7.9% from the October 31st total of 11,790,000 shares. Approximately 13.4% of the company’s stock are sold short. Based on an average trading volume of 1,620,000 shares, the short-interest ratio is currently 7.9 days.

Analyst Ratings Changes

Several research firms recently weighed in on HP. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Royal Bank of Canada reduced 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, November 15th. Barclays dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup lowered their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $38.57.

Helmerich & Payne Stock Up 0.2 %

HP stock opened at $35.26 on Wednesday. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.11. The stock has a fifty day moving average of $34.25 and a 200-day moving average of $34.79. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 4.30 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter last year, the company earned $0.69 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne will post 3.12 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.84%. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in HP. Covestor Ltd grew its holdings in Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 854 shares during the last quarter. Quarry LP purchased a new position in Helmerich & Payne in the 3rd quarter worth approximately $48,000. Headlands Technologies LLC grew its position in Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 757 shares in the last quarter. Finally, Eastern Bank bought a new stake in Helmerich & Payne during the third quarter worth about $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

About Helmerich & Payne

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.