Insider Selling: Helmerich & Payne (NYSE:HP) CAO Sells 6,700 Shares of Stock

Key Points

• Helmerich & Payne's Chief Accounting Officer, Sara Marie Momper, sold 6,700 shares for a total of $119,461, marking a 23.42% decrease in personal stock ownership.
• The company recently declared a quarterly dividend of $0.25 per share, with a yield of 5.6%, to be paid on August 29th for investors of record as of August 15th.
• Analysts have mixed opinions on Helmerich & Payne, with a consensus rating of "Reduce" and a target price of $22.20, reflecting varying assessments of its stock performance.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the transaction, the chief accounting officer directly owned 21,908 shares in the company, valued at approximately $390,619.64. The trade was a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Helmerich & Payne Price Performance

Shares of HP stock traded up $0.1650 on Tuesday, reaching $17.7550. 1,671,690 shares of the company were exchanged, compared to its average volume of 2,001,503. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $37.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The business has a 50-day moving average price of $16.72 and a 200 day moving average price of $20.26. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -53.80 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1 billion. During the same period in the previous year, the firm posted $0.92 EPS. Helmerich & Payne's revenue was up 49.2% compared to the same quarter last year. Equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's payout ratio is presently -303.03%.

Wall Street Analyst Weigh In

HP has been the topic of several recent research reports. Wall Street Zen cut shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Citigroup reissued a "neutral" rating and issued a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Piper Sandler increased their price objective on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Susquehanna decreased their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Finally, TD Cowen upped their price target on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $22.20.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently made changes to their positions in HP. Balyasny Asset Management L.P. increased its holdings in shares of Helmerich & Payne by 174.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company's stock worth $30,993,000 after buying an additional 1,298,510 shares during the last quarter. Victory Capital Management Inc. increased its stake in Helmerich & Payne by 28.4% during the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock worth $92,809,000 after acquiring an additional 786,250 shares during the last quarter. Norges Bank purchased a new stake in Helmerich & Payne in the second quarter valued at $10,571,000. Invesco Ltd. lifted its stake in shares of Helmerich & Payne by 24.7% in the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock valued at $70,632,000 after purchasing an additional 535,808 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Helmerich & Payne during the 2nd quarter worth $7,841,000. 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.

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