Helmerich & Payne, Inc. (NYSE:HP) Short Interest Update

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totalling 10,420,000 shares, a drop of 9.9% from the April 15th total of 11,560,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 8.8 days. Approximately 11.0% of the company's stock are sold short.

Helmerich & Payne Trading Down 1.4 %

Shares of HP traded down $0.53 during mid-day trading on Wednesday, reaching $38.50. The stock had a trading volume of 1,185,609 shares, compared to its average volume of 1,274,815. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. The business's fifty day moving average is $40.81 and its 200 day moving average is $38.41. Helmerich & Payne has a 52-week low of $30.69 and a 52-week high of $46.55. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.87 and a beta of 1.51.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The firm had revenue of $687.94 million for the quarter, compared to analysts' expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm's quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. On average, sell-side analysts predict that Helmerich & Payne will post 3.56 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.36%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HP. Royal Bank of Canada upped their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 31st. Citigroup upped their target price on Helmerich & Payne from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Piper Sandler dropped their target price on shares of Helmerich & Payne from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Monday, May 6th. Finally, Susquehanna decreased their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a "positive" rating on the stock in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.00.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the firm's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now owns 137,764 shares of the company's stock, valued at $5,540,868.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Mark W. Smith sold 16,000 shares of the firm's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares of the company's stock, valued at $5,865,786.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the business's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares of the company's stock, valued at $5,540,868.08. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company's stock.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in shares of Helmerich & Payne by 13,372.8% during the third quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company's stock worth $101,958,000 after buying an additional 2,400,414 shares during the period. Pacer Advisors Inc. grew its position in shares of Helmerich & Payne by 130.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company's stock valued at $98,535,000 after buying an additional 1,541,987 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Helmerich & Payne by 937.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company's stock valued at $30,487,000 after acquiring an additional 760,554 shares during the last quarter. ARGA Investment Management LP boosted its stake in Helmerich & Payne by 497.3% in the fourth quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company's stock valued at $32,131,000 after acquiring an additional 738,594 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Helmerich & Payne by 11,750.0% during the fourth quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company's stock worth $20,602,000 after purchasing an additional 564,000 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

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.