Helmerich & Payne, Inc. (NYSE:HP) CEO John W. Lindsay Purchases 20,000 Shares of Stock

Helmerich & Payne, Inc. (NYSE:HP) CEO John W. Lindsay acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the transaction, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Helmerich & Payne Stock Performance

Shares of HP opened at $27.30 on Wednesday. The stock has a 50-day simple moving average of $32.80 and a 200-day simple moving average of $33.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 2.81. The stock has a market capitalization of $2.71 billion, a PE ratio of 8.98, a PEG ratio of 3.41 and a beta of 1.37. Helmerich & Payne, Inc. has a 1 year low of $26.61 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data 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 return on equity of 11.31% and a net margin of 11.02%. On average, analysts predict that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is presently 32.89%.

Analyst Upgrades and Downgrades

HP has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Barclays dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Citigroup raised 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, Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.75.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in Helmerich & Payne during the fourth quarter worth approximately $27,000. Covestor Ltd lifted its stake in Helmerich & Payne by 76.9% during the third 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 during the last quarter. Blue Trust Inc. lifted its stake 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 purchasing an additional 854 shares during the last quarter. Quarry LP purchased a new stake in Helmerich & Payne during the third quarter worth approximately $48,000. Finally, Eastern Bank purchased a new stake in Helmerich & Payne during the third quarter worth approximately $61,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

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.