Helmerich & Payne Inc. (HP) CEO John W. Lindsay Sells 10,000 Shares
Helmerich & Payne Inc. (NYSE:HP) CEO John W. Lindsay sold 10,000 shares of the stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $67.41, for a total transaction of $674,100.00. Following the transaction, the chief executive officer now directly owns 136,512 shares of the company’s stock, valued at $9,202,273.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Helmerich & Payne Inc. (NYSE:HP) opened at 75.65 on Thursday. Helmerich & Payne Inc. has a 1-year low of $40.02 and a 1-year high of $70.39. The stock’s market cap is $8.18 billion. The company’s 50-day moving average is $66.09 and its 200 day moving average is $63.85.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 17th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.09. Helmerich & Payne had a negative net margin of 3.50% and a negative return on equity of 2.25%. The business had revenue of $332 million for the quarter, compared to analyst estimates of $304.26 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The firm’s revenue was down 40.1% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne Inc. will post ($1.11) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.70%. Helmerich & Payne’s dividend payout ratio is currently -518.52%.
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Several large investors have recently added to or reduced their stakes in HP. ETRADE Capital Management LLC raised its stake in Helmerich & Payne by 54.1% in the third quarter. ETRADE Capital Management LLC now owns 6,018 shares of the company’s stock worth $405,000 after buying an additional 2,113 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Helmerich & Payne by 12.5% in the third quarter. D.A. Davidson & CO. now owns 6,446 shares of the company’s stock worth $433,000 after buying an additional 716 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Helmerich & Payne by 0.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 196,349 shares of the company’s stock worth $13,214,000 after buying an additional 809 shares during the last quarter. OLD Republic International Corp increased its position in shares of Helmerich & Payne by 20.8% in the third quarter. OLD Republic International Corp now owns 494,100 shares of the company’s stock worth $33,046,000 after buying an additional 85,000 shares during the last quarter. Finally, Peloton Wealth Strategists bought a new position in shares of Helmerich & Payne during the third quarter worth approximately $1,481,000.
HP has been the subject of a number of research analyst reports. Seaport Global Securities cut shares of Helmerich & Payne from an “accumulate” rating to a “neutral” rating in a report on Thursday. Citigroup Inc. dropped their target price on shares of Helmerich & Payne from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Morgan Stanley raised shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $80.00 in a report on Tuesday, September 6th. Simmons reaffirmed a “neutral” rating and issued a $50.00 target price (down from $54.00) on shares of Helmerich & Payne in a report on Thursday, August 4th. Finally, Argus reaffirmed a “buy” rating and issued a $72.00 target price on shares of Helmerich & Payne in a report on Monday, August 15th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.64.
Helmerich & Payne Company Profile
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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