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

Helmerich & Payne, Inc. (NYSE:HP) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 12,720,000 shares, an increase of 7.9% from the October 31st total of 11,790,000 shares. Approximately 13.4% of the company’s stock are sold short. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 7.9 days.

Analysts Set New Price Targets

HP has been the topic of a number of analyst reports. Barclays dropped their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Finally, Citigroup reduced their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $38.57.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in Helmerich & Payne by 1.3% during the second quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock valued at $1,000,000 after buying an additional 342 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Helmerich & Payne by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after buying an additional 513 shares during the last quarter. KBC Group NV boosted its stake in Helmerich & Payne by 20.3% during the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 529 shares during the last quarter. Covestor Ltd boosted its stake in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Helmerich & Payne by 0.4% during the third quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock valued at $4,793,000 after buying an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

HP traded up $0.08 during midday trading on Tuesday, reaching $35.26. The company had a trading volume of 1,512,183 shares, compared to its average volume of 1,383,509. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $34.20 and a two-hundred day moving average of $34.81. The company has a market cap of $3.48 billion, a P/E ratio of 10.25, a P/E/G ratio of 4.30 and a beta of 1.39. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne will post 3.12 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Monday, November 18th. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

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.