Helmerich & Payne, Inc. (NYSE:HP) Sees Large Growth in Short Interest

Helmerich & Payne, Inc. (NYSE:HP) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 8,107,640 shares, an increase of 35.2% from the January 29th total of 5,997,108 shares. Currently, 8.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,490,719 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily trading volume, of 2,490,719 shares, the days-to-cover ratio is currently 3.3 days. Currently, 8.5% of the company’s stock are sold short.

Helmerich & Payne Stock Performance

Shares of HP stock traded down $0.14 during trading hours on Monday, reaching $35.08. 1,539,903 shares of the company’s stock were exchanged, compared to its average volume of 1,839,617. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $36.73. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $3.50 billion, a P/E ratio of -11.00 and a beta of 0.54. The business has a fifty day moving average price of $32.42 and a 200-day moving average price of $27.05.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s revenue was up 50.2% on a year-over-year basis. Analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. Helmerich & Payne’s payout ratio is presently -31.35%.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Helmerich & Payne by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,165,265 shares of the oil and gas company’s stock valued at $148,141,000 after acquiring an additional 194,935 shares during the period. State Street Corp lifted its position in shares of Helmerich & Payne by 0.8% in the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after acquiring an additional 33,193 shares during the period. American Century Companies Inc. grew its holdings in shares of Helmerich & Payne by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock worth $76,741,000 after purchasing an additional 249,425 shares in the last quarter. Invesco Ltd. increased its position in shares of Helmerich & Payne by 15.5% during the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock valued at $99,477,000 after purchasing an additional 465,440 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of Helmerich & Payne by 4.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after purchasing an additional 87,882 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HP. Royal Bank Of Canada upped their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. Barclays boosted their price target on Helmerich & Payne from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Susquehanna reiterated a “positive” rating and set a $40.00 price target on shares of Helmerich & Payne in a research note on Friday, February 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Finally, Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.20.

Helmerich & Payne Company Profile

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.