Helmerich & Payne targets unusually high options trading (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) was the recipient of unusual options trading activity on Friday. Stock traders bought 17,703 call options on the stock. This is an increase of approximately 1,243% from the typical daily volume of 1,318 call options.

A number of research analysts have published reports on the stock. Citigroup reduced its target price on Helmerich & Payne shares from $30.00 to $28.00 and set a “neutral” rating for the company in a Friday, November 19 research note. Barclays upgraded the shares of Helmerich & Payne from a “weighted” rating to an “overweight” rating in a Tuesday, January 4 research note. Morgan Stanley cut Helmerich & Payne shares from an “equal weight” rating to an “underweight” rating and lowered its price target for the company from $30.00 to $27.00 in a rating of research from Monday, December 6. Finally, Royal Bank of Canada lowered its price target on Helmerich & Payne shares from $40.00 to $38.00 and set an “outperform” rating for the stock in a Friday, November 19 report. . Three equity research analysts gave the stock a sell rating, eight gave the company a hold rating and seven gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.14.

HP shares traded at $2.19 during Friday trading hours, hitting $32.49. The company’s shares had a trading volume of 84,083 shares, compared to its average trading volume of 1,473,229. Helmerich & Payne has a 12-month low of $20.93 and a 12-month high of 36 $.26. The company has a fifty-day moving average of $25.97 and a 200-day moving average of $27.92. The stock has a market capitalization of $3.48 billion, a price-earnings ratio of -11.25 and a beta of 2.02. The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt ratio of 0.19.

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Helmerich & Payne Inc (NYSE:HP) last reported results on Monday, January 31. The oil and gas company reported ($0.45) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.50) by $0.05. Helmerich & Payne had a negative net margin of 22.22% and a negative return on equity of 7.95%. In the same quarter last year, the company posted ($0.82) earnings per share. On average, equity analysts expect Helmerich & Payne to post -1.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 28. Shareholders of record on Friday, February 11 will receive a dividend of $0.25. This represents an annualized dividend of $1.00 and a yield of 3.08%. The ex-date of this dividend is Thursday, February 10. Helmerich & Payne’s payout ratio is -34.84%.

In other Helmerich & Payne news, SVP Raymond John Adams III sold 7,116 shares of the company in a trade that took place on Monday, December 13. The stock was sold at an average price of $24.39, for a total value of $173,559.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.35% of the shares are currently held by insiders.

A number of large investors have recently increased or reduced their stake in HP. Advisor Group Holdings Inc. increased its stake in Helmerich & Payne shares by 8.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 46,659 shares of the oil and gas company worth $1,105,000 after acquiring 3,578 additional shares last quarter. Mutual of America Capital Management LLC increased its stake in Helmerich & Payne shares by 2.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 14,742 shares of the oil and gas company valued at $349,000 after buying 353 additional shares last quarter. Cambria Investment Management LP increased its position in Helmerich & Payne by 11.3% during the fourth quarter. Cambria Investment Management LP now owns 114,372 shares of the oil and gas company worth $2,711,000 after purchasing an additional 11,649 shares during the period. Nisa Investment Advisors LLC increased its position in Helmerich & Payne by 7.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 99,840 shares of the oil and gas company worth $2,865,000 after purchasing an additional 6,500 shares during the period. Finally, Duality Advisers LP acquired a new equity stake in Helmerich & Payne during the fourth quarter at a value of $1,142,000. Hedge funds and other institutional investors own 88.03% of the company’s shares.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to providing industry-leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, security and innovation to deliver superior results for its customers and returns for shareholders.

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