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

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 11,340,000 shares, a drop of 5.0% from the December 31st total of 11,940,000 shares. Currently, 11.9% of the company's shares are short sold. Based on an average trading volume of 1,380,000 shares, the days-to-cover ratio is presently 8.2 days.

Helmerich & Payne Stock Performance

Shares of NYSE HP traded up $1.42 during trading on Tuesday, reaching $32.62. 1,303,354 shares of the stock traded hands, compared to its average volume of 1,203,825. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The stock has a market capitalization of $3.28 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 3.88 and a beta of 1.37. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.11. The company has a 50-day moving average of $33.45 and a 200-day moving average of $33.86.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Analysts forecast that Helmerich & Payne will post 3.11 EPS 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. Stockholders of record on Friday, February 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne's dividend payout ratio is presently 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at about $27,000. Covestor Ltd raised its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 643 shares in the last quarter. Blue Trust Inc. lifted its position in 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 valued at $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP purchased a new position in Helmerich & Payne in the 3rd quarter worth approximately $48,000. Finally, Eastern Bank bought a new position in shares of Helmerich & Payne in the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 96.05% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on HP. Benchmark restated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Barclays reduced their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 20th. Citigroup upgraded shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and boosted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Royal Bank of Canada reduced their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating for the company in a report on Friday, November 15th. Finally, Evercore ISI reissued an "in-line" rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.50.

Helmerich & Payne Company Profile

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.