Helmerich & Payne, Inc. (NYSE:HP) Director Acquires $1,011,600.48 in Stock

Helmerich & Payne, Inc. (NYSE:HP) Director Belgacem Chariag acquired 37,356 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Helmerich & Payne Price Performance

NYSE:HP traded down $0.13 during mid-day trading on Tuesday, reaching $27.30. The stock had a trading volume of 1,774,588 shares, compared to its average volume of 1,639,904. The stock has a 50-day simple moving average of $32.96 and a two-hundred day simple moving average of $33.58. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40. Helmerich & Payne, Inc. has a 12 month low of $26.61 and a 12 month high of $44.11. The stock has a market capitalization of $2.71 billion, a PE ratio of 8.98, a P/E/G ratio of 3.41 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. Helmerich & Payne’s payout ratio is 32.89%.

Wall Street Analysts Forecast Growth

HP has been the topic of a number of recent analyst reports. Evercore ISI reissued 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. Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada cut their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $38.75.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Investment Management LLC bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $27,000. Covestor Ltd increased its stake 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 purchasing an additional 643 shares in the last quarter. Blue Trust Inc. raised its holdings in Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne in the third quarter valued at $48,000. Finally, Eastern Bank acquired a new position in shares of Helmerich & Payne during the third quarter valued at about $61,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.