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

Helmerich & Payne, Inc. (NYSE:HP) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 11,340,000 shares, a decrease of 5.0% from the December 15th total of 11,940,000 shares. Approximately 11.9% of the company’s stock are short sold. Based on an average trading volume of 1,380,000 shares, the days-to-cover ratio is presently 8.2 days.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HP shares. Barclays reduced their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Evercore ISI restated an “in-line” rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Finally, Royal Bank of Canada lowered 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 report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $39.50.

Helmerich & Payne Stock Performance

NYSE HP opened at $36.38 on Monday. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.11. The company has a fifty day moving average of $33.70 and a 200-day moving average of $34.19. The company has a market capitalization of $3.59 billion, a P/E ratio of 10.57, a P/E/G ratio of 4.22 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The company had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. Helmerich & Payne’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. As a group, equities research analysts predict that Helmerich & Payne will post 3.11 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.75%. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

Large investors have recently bought and sold shares of the stock. Covestor Ltd grew its holdings in Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 643 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the period. Quarry LP bought a new stake in shares of Helmerich & Payne in the third quarter worth about $48,000. Eastern Bank purchased a new position in Helmerich & Payne during the 3rd quarter valued at about $61,000. Finally, Steph & Co. bought a new position in Helmerich & Payne during the 4th quarter valued at approximately $87,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.