Helmerich & Payne (NYSE:HP) SVP Sells $493,566.23 in Stock

Key Points

• Insider transaction: SVP Cara Hair sold 11,149 Helmerich & Payne shares for approximately $493,566, reducing her ownership by 7.57% to 136,095 shares.
• Quarterly performance: The company reported a quarterly loss of $0.11 per share, missing analyst estimates of $0.09, while revenue reached $1.03 billion and declined 0.6% year over year.
• Stock and outlook: HP traded near $44.21 and announced a quarterly dividend of $0.25 per share, representing a 2.3% yield. Analysts’ consensus rating is “Hold,” with an average price target of $40.50.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) SVP Cara Hair sold 11,149 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the sale, the senior vice president owned 136,095 shares in the company, valued at $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Helmerich & Payne Price Performance

HP stock traded down $0.51 during midday trading on Tuesday, reaching $44.21. The company had a trading volume of 927,738 shares, compared to its average volume of 1,411,512. Helmerich & Payne, Inc. has a 1 year low of $17.35 and a 1 year high of $45.00. The firm has a 50-day moving average price of $35.47 and a 200-day moving average price of $36.08. The company has a market capitalization of $4.42 billion, a P/E ratio of -31.36 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $987.70 million. During the same period last year, the business posted $0.22 earnings per share. The company's revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that Helmerich & Payne, Inc. will post -0.12 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Helmerich & Payne's dividend payout ratio is -70.92%.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock valued at $2,721,000 after acquiring an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Helmerich & Payne by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company's stock worth $1,531,000 after acquiring an additional 3,611 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Helmerich & Payne by 39,685.1% in the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock valued at $904,000 after purchasing an additional 34,526 shares during the period. Empowered Funds LLC increased its holdings in Helmerich & Payne by 9.9% in the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock worth $247,000 after acquiring an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock valued at $5,575,000 after acquiring an additional 54,758 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HP has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Helmerich & Payne from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Citigroup cut their price target on Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, June 29th. Piper Sandler raised their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Morgan Stanley restated an "underweight" rating and issued a $36.00 price target on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $40.50.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.

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