Short Interest in Helmerich & Payne, Inc. (NYSE:HP) Grows By 18.4%
Helmerich & Payne, Inc. (NYSE:HP – Get Free Report) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 7,990,000 shares, an increase of 18.4% from the November 15th total of 6,750,000 shares. Based on an average daily volume of 1,310,000 shares, the short-interest ratio is presently 6.1 days. Currently, 8.4% of the shares of the stock are sold short.
Insider Buying and Selling at Helmerich & Payne
In other news, SVP Raymond John Adams III sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $45.00, for a total value of $112,500.00. Following the transaction, the senior vice president now owns 69,025 shares in the company, valued at $3,106,125. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Raymond John Adams III sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $45.00, for a total value of $112,500.00. Following the transaction, the senior vice president now owns 69,025 shares in the company, valued at $3,106,125. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hans Helmerich sold 25,627 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $42.46, for a total value of $1,088,122.42. Following the completion of the transaction, the director now owns 1,340,288 shares in the company, valued at approximately $56,908,628.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,127 shares of company stock valued at $1,455,502. Company insiders own 4.16% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of HP. JPMorgan Chase & Co. grew its stake in Helmerich & Payne by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock worth $14,071,000 after purchasing an additional 7,160 shares in the last quarter. Raymond James & Associates lifted its holdings in Helmerich & Payne by 3.9% during the 1st quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock worth $799,000 after buying an additional 709 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Helmerich & Payne during the 1st quarter worth about $353,000. HighTower Advisors LLC lifted its holdings in Helmerich & Payne by 4.2% during the 1st quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock worth $799,000 after buying an additional 743 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in Helmerich & Payne during the 1st quarter worth about $272,000. 96.05% of the stock is owned by institutional investors and hedge funds.
Helmerich & Payne Trading Down 1.2 %
Shares of NYSE HP traded down $0.44 during trading on Friday, reaching $37.14. The stock had a trading volume of 4,130,849 shares, compared to its average volume of 1,420,335. Helmerich & Payne has a fifty-two week low of $30.41 and a fifty-two week high of $51.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 2.40. The business’s 50-day moving average price is $38.91 and its 200-day moving average price is $39.31. The company has a market cap of $3.69 billion, a P/E ratio of 8.92 and a beta of 1.59.
Helmerich & Payne (NYSE:HP – Get Free Report) last issued its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). Helmerich & Payne had a net margin of 15.11% and a return on equity of 15.76%. The firm had revenue of $659.61 million during the quarter, compared to analyst estimates of $662.17 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Helmerich & Payne will post 3.1 EPS for the current fiscal year.
Helmerich & Payne Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.52%. This is a boost from Helmerich & Payne’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, February 12th. Helmerich & Payne’s payout ratio is presently 24.04%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on HP shares. Piper Sandler reduced their price objective on Helmerich & Payne from $51.00 to $47.00 and set an “overweight” rating on the stock in a research report on Monday, November 13th. Atb Cap Markets cut Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 16th. StockNews.com cut Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Susquehanna cut their target price on Helmerich & Payne from $53.00 to $50.00 and set a “positive” rating for the company in a research note on Wednesday, December 6th. Finally, Morgan Stanley raised their target price on Helmerich & Payne from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.63.
View Our Latest Stock Report on HP
Helmerich & Payne Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: Short Interest in Helmerich & Payne, Inc. (NYSE:HP) Grows By 18.4%