Helmerich & Payne (NYSE:HP) Trading Down 4.5% - Here's What Happened

Key Points

• Helmerich & Payne shares fell 4.5% to about $45.50 in midday trading, with volume 77% below the average session level.
• The company reported a quarterly loss of $0.11 per share, missing analysts’ $0.09 profit estimate, while revenue of $1.03 billion topped expectations but declined slightly year over year.
• Analysts’ consensus rating remains Hold with a $41 price target, while insiders sold 110,673 shares worth approximately $4.86 million over the past 90 days.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) traded down 4.5% on Thursday . The company traded as low as $45.65 and last traded at $45.5020. 324,529 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,403,101 shares. The stock had previously closed at $47.64.

Analysts Set New Price Targets

A number of analysts have commented on HP shares. Royal Bank Of Canada boosted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Susquehanna increased their price target on Helmerich & Payne from $40.00 to $44.00 and gave the company a "positive" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Helmerich & Payne from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. The Goldman Sachs Group upped their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Finally, Barclays raised their target price on Helmerich & Payne from $47.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.00.

Helmerich & Payne Trading Down 4.9%

The firm has a market cap of $4.53 billion, a P/E ratio of -32.13 and a beta of 0.66. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The company's fifty day moving average price is $37.18 and its two-hundred day moving average price is $36.85.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted 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 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 the consensus estimate of $987.70 million. During the same quarter in the previous year, the business earned $0.22 EPS. The firm's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Cara M. Hair sold 11,149 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the transaction, the senior vice president directly owned 136,095 shares of the company's stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hans Helmerich sold 94,470 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the sale, the director owned 20,000 shares of the company's stock, valued at approximately $878,000. This represents a 82.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,673 shares of company stock valued at $4,864,590 over the last 90 days. Company insiders own 4.40% of the company's stock.

Institutional Trading of Helmerich & Payne

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in 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 during the last quarter. Leonteq Securities AG acquired a new position in Helmerich & Payne during the fourth quarter worth $26,000. 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 worth $49,000 after acquiring an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 445 shares in the last quarter. Finally, Strs Ohio purchased a new position in Helmerich & Payne during the first quarter valued at approximately $101,000. 96.05% of the stock is currently owned by institutional investors.

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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