Helmerich & Payne Inc. (HP) Trading Up 3.8%
Helmerich & Payne Inc. (NYSE:HP)’s share price was up 3.8% on Thursday . The stock traded as high as $65.32 and last traded at $64.76, with a volume of 1,040,869 shares. The stock had previously closed at $62.37.
Several equities analysts have recently weighed in on HP shares. Bank of America Corp. started coverage on shares of Helmerich & Payne in a research note on Monday, June 13th. They set a “buy” rating for the company. Nomura raised their target price on shares of Helmerich & Payne from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, May 3rd. Argus reissued a “buy” rating and issued a $72.00 target price on shares of Helmerich & Payne in a research note on Monday. Goldman Sachs Group Inc. raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, June 21st. Finally, Zacks Investment Research raised shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Helmerich & Payne presently has an average rating of “Hold” and an average target price of $59.11.
The stock’s market cap is $6.99 billion. The firm has a 50 day moving average of $64.66 and a 200-day moving average of $60.52.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.06. The firm earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. The business’s revenue for the quarter was down 44.6% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, equities analysts anticipate that Helmerich & Payne Inc. will post ($1.16) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, August 11th. This represents a $2.80 annualized dividend and a dividend yield of 4.33%. This is a boost from Helmerich & Payne’s previous quarterly dividend of $0.69.
In related news, CEO John W. Lindsay sold 19,000 shares of the stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $67.37, for a total transaction of $1,280,030.00. Following the sale, the chief executive officer now owns 145,512 shares of the company’s stock, valued at approximately $9,803,143.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds recently modified their holdings of the company. Aberdeen Asset Management PLC UK boosted its stake in shares of Helmerich & Payne by 28.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 20,701 shares of the company’s stock worth $1,174,000 after buying an additional 4,525 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Helmerich & Payne by 27.4% in the fourth quarter. Victory Capital Management Inc. now owns 23,515 shares of the company’s stock worth $1,259,000 after buying an additional 5,058 shares during the period. Comerica Bank boosted its stake in shares of Helmerich & Payne by 1.5% in the fourth quarter. Comerica Bank now owns 32,396 shares of the company’s stock worth $1,549,000 after buying an additional 479 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Helmerich & Payne by 9.3% in the fourth quarter. Suntrust Banks Inc. now owns 40,937 shares of the company’s stock worth $2,191,000 after buying an additional 3,472 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Helmerich & Payne by 34.0% in the fourth quarter. US Bancorp DE now owns 59,792 shares of the company’s stock worth $3,201,000 after buying an additional 15,185 shares during the period.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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