Helmerich & Payne Inc. (HP) Trading Down 2.7%
Helmerich & Payne Inc. (NYSE:HP)’s share price traded down 2.7% on Monday . The company traded as low as $62.08 and last traded at $62.49, with a volume of 598,301 shares changing hands. The stock had previously closed at $64.24.
A number of equities analysts recently weighed in on the stock. BMO Capital Markets reiterated a “sell” rating on shares of Helmerich & Payne in a research report on Monday, May 2nd. Scotiabank lowered shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, May 3rd. Howard Weil downgraded Helmerich & Payne from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, May 3rd. Morgan Stanley reissued a “sell” rating on shares of Helmerich & Payne in a report on Monday, May 2nd. Finally, Zacks Investment Research raised Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.11.
The company’s market cap is $6.76 billion. The company has a 50-day moving average of $64.54 and a 200-day moving average of $60.65.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.41) by $0.06. During the same period last year, the company posted $0.27 earnings per share. The firm earned $366.50 million during the quarter, compared to analyst estimates of $298.71 million. The firm’s revenue was down 44.6% compared to the same quarter last year. On average, equities research analysts predict that Helmerich & Payne Inc. will post ($1.18) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be issued a dividend of $0.70 per share. This is an increase from Helmerich & Payne’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Thursday, August 11th.
In other news, CEO John W. Lindsay sold 19,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 145,512 shares of the company’s stock, valued at $9,803,143.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Other large investors have made changes to their positions in the company. Victory Capital Management Inc. increased 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 valued at $1,259,000 after buying an additional 5,058 shares in the last quarter. I.G. Investment Management LTD. increased its stake in shares of Helmerich & Payne by 0.4% in the fourth quarter. I.G. Investment Management LTD. now owns 236,710 shares of the company’s stock valued at $12,676,000 after buying an additional 1,000 shares in the last quarter. Airain ltd increased its stake in shares of Helmerich & Payne by 92.7% in the fourth quarter. Airain ltd now owns 108,420 shares of the company’s stock valued at $5,806,000 after buying an additional 52,164 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Helmerich & Payne by 40.2% in the fourth quarter. American International Group Inc. now owns 5,805,347 shares of the company’s stock valued at $310,877,000 after buying an additional 1,664,018 shares in the last quarter.
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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