John W. Lindsay Acquires 20,000 Shares of Helmerich & Payne, Inc. (NYSE:HP) Stock

Helmerich & Payne, Inc. (NYSE:HP) CEO John W. Lindsay acquired 20,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the purchase, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $26.96 on Thursday. The company has a market cap of $2.68 billion, a P/E ratio of 8.87, a PEG ratio of 3.41 and a beta of 1.37. The firm has a fifty day moving average price of $32.64 and a 200 day moving average price of $33.44. The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a 12 month low of $26.35 and a 12 month high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Sell-side analysts predict that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 annualized dividend and a yield of 3.71%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Institutional Trading of Helmerich & Payne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Helmerich & Payne by 0.8% in the 3rd quarter. State Street Corp now owns 4,182,972 shares of the oil and gas company’s stock valued at $127,246,000 after buying an additional 34,395 shares in the last quarter. ARGA Investment Management LP lifted its position in Helmerich & Payne by 42.5% in the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after acquiring an additional 801,000 shares during the last quarter. American Century Companies Inc. boosted its stake in Helmerich & Payne by 14.0% in the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock valued at $85,121,000 after acquiring an additional 327,374 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Helmerich & Payne by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company’s stock worth $68,373,000 after purchasing an additional 22,875 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Helmerich & Payne by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company’s stock worth $49,885,000 after purchasing an additional 53,277 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays reduced their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Evercore ISI restated an “in-line” rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.75.

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.