Short Interest in Helmerich & Payne, Inc. (NYSE:HP) Declines By 13.6%

Helmerich & Payne, Inc. (NYSE:HP) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 8,570,000 shares, a decrease of 13.6% from the January 31st total of 9,920,000 shares. Currently, 9.0% of the shares of the company are sold short. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is presently 5.4 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Argus upgraded Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Royal Bank of Canada reduced their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays reduced their target price on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Evercore ISI reaffirmed 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. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.25.

Helmerich & Payne Stock Down 0.2 %

NYSE:HP opened at $25.30 on Thursday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.37. Helmerich & Payne has a twelve month low of $23.80 and a twelve month high of $44.11. The stock’s 50 day moving average price is $30.90 and its two-hundred day moving average price is $32.49. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping 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%. Equities research analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.25 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.00 annualized dividend and a yield of 3.95%. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Insider Activity

In other Helmerich & Payne news, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Helmerich & Payne by 0.8% in the 3rd quarter. State Street Corp now owns 4,182,972 shares of the oil and gas company’s stock valued at $127,246,000 after acquiring an additional 34,395 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Helmerich & Payne by 1.0% during the 4th quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock worth $111,654,000 after buying an additional 35,013 shares in the last quarter. ARGA Investment Management LP raised its holdings in shares of Helmerich & Payne by 42.5% during the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after buying an additional 801,000 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Helmerich & Payne by 14.0% during the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock worth $85,121,000 after buying an additional 327,374 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Helmerich & Payne by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company’s stock worth $68,373,000 after buying an additional 22,875 shares in the last quarter. 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.