Insider Selling: Helmerich & Payne (NYSE:HP) Director Sells $4,147,233.00 in Stock

Key Points

• Director Hans Helmerich sold 94,470 HP shares at an average price of $43.90, generating $4.15 million and reducing his ownership by 82.53% to 20,000 shares.
• Helmerich & Payne’s shares fell 2.5% to $42.45, while the company reported an adjusted quarterly loss of $0.11 per share, missing analyst expectations 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 2.4% yield; analysts maintain a consensus “Hold” rating with an average price target of $41.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) Director Hans Helmerich sold 94,470 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the sale, the director owned 20,000 shares of the company's stock, valued at $878,000. This represents a 82.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Helmerich & Payne Trading Down 2.5%

HP traded down $1.10 on Monday, hitting $42.45. 621,379 shares of the company were exchanged, compared to its average volume of 1,397,062. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $36.37. The stock has a market capitalization of $4.24 billion, a PE ratio of -30.11 and a beta of 0.61. Helmerich & Payne, Inc. has a 12 month low of $18.48 and a 12 month high of $45.00.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts expect that Helmerich & Payne, Inc. will post -0.15 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 2.4%. Helmerich & Payne's dividend payout ratio is presently -70.92%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HP. Leonteq Securities AG bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 1,582 shares in the last quarter. Parallel Advisors LLC lifted its position in Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,787 shares during the period. Hantz Financial Services Inc. lifted its position in Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock valued at $65,000 after acquiring an additional 445 shares during the period. Finally, Strs Ohio bought a new stake in Helmerich & Payne during the first quarter worth about $101,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on HP. Wall Street Zen raised Helmerich & Payne from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Morgan Stanley upped their target price on Helmerich & Payne from $36.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday. Piper Sandler boosted 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. Royal Bank Of Canada raised their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a "sector perform" rating in a research report on Friday, May 8th. Finally, Barclays boosted their price target on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Helmerich & Payne has a consensus rating of "Hold" and an average target price of $41.00.

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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