Insider Selling: Helmerich & Payne (NYSE:HP) CAO Sells $223,791.12 in Stock

Key Points

• Helmerich & Payne CAO Sara Marie Momper sold 5,054 shares for approximately $223,791 at an average price of $44.28, reducing her ownership by 22.96% to 16,958 shares.
• HP shares recently traded near their 52-week high at $44.21, while the company reported a quarterly loss of $0.11 per share, missing estimates, despite revenue of $1.03 billion.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 2.3% yield. Analysts maintain a consensus “Hold” rating with a $40.50 price target, while institutional investors own 96.05% of the stock.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) CAO Sara Marie Momper sold 5,054 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the sale, the chief accounting officer owned 16,958 shares in the company, valued at $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Helmerich & Payne Stock Down 1.1%

Helmerich & Payne stock traded down $0.51 during trading on Tuesday, reaching $44.21. The stock had a trading volume of 927,738 shares, compared to its average volume of 1,411,512. Helmerich & Payne, Inc. has a 52-week low of $17.35 and a 52-week high of $45.00. The business has a 50 day moving average price of $35.47 and a 200 day moving average price of $36.08. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4.42 billion, a PE ratio of -31.36 and a beta of 0.61.

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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. During the same quarter last year, the firm earned $0.22 EPS. The company's revenue was down .6% on a year-over-year basis. On average, analysts predict that Helmerich & Payne, Inc. will post -0.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid 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 payout ratio is presently -70.92%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Helmerich & Payne during the second quarter worth about $513,336,000. Bank of America Corp DE acquired a new position in shares of Helmerich & Payne in the second quarter valued at approximately $43,370,000. Balyasny Asset Management L.P. increased its holdings in shares of Helmerich & Payne by 174.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company's stock valued at $30,993,000 after purchasing an additional 1,298,510 shares during the period. Encompass Capital Advisors LLC raised its stake in shares of Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company's stock worth $59,702,000 after purchasing an additional 1,296,537 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Helmerich & Payne during the second quarter worth approximately $30,606,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HP. Barclays raised their price target on Helmerich & Payne from $47.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Wall Street Zen upgraded Helmerich & Payne from a "sell" rating to a "hold" rating in a report on Saturday. Citigroup cut their target price on Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Weiss Ratings upgraded Helmerich & Payne from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Finally, Piper Sandler raised their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Five 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, Helmerich & Payne presently has a consensus rating of "Hold" and a consensus price target 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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