Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Helmerich & Payne Inc. shares valued at $210,930 were sold by Smith Mark W. on May 03. At $47.40 per share, Smith Mark W. sold 4,450 shares. The insider’s holdings dropped to 98,107 shares worth approximately $3.76 million following the completion of this transaction.
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Also, Hair Cara M. sold 2,200 shares, netting a total of over 93,104 in proceeds. Following the sale of shares at $42.32 each, the insider now holds 94,930 shares.
Before that, HELMERICH HANS had sold 150,000 shares from its account. In a trade valued at $6,381,000, the Director traded Helmerich & Payne Inc. shares for $42.54 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $20.78 million.
As published in their initiating research note from The Benchmark Company on April 12, 2022, Helmerich & Payne Inc. [HP] has been a Buy and the price target has been revised to $53. This represents a 27.68% premium over Thursday’s closing price. Analysts at Seaport Research Partners upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of December 07, 2021, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for HP.
Analyzing HP’s Price Performance
On Thursday, Helmerich & Payne Inc. [NYSE: HP] plunged -1.89% to $38.33. The stock’s lowest price that day was $37.34, but it reached a high of $39.56 in the same session. During the last five days, there has been a drop of approximately -12.47%. Over the course of the year, Helmerich & Payne Inc. shares have jumped approximately 61.73%. Shares of the company reached a 52-week high of $54.59 on 06/08/22 and a 52-week low of $23.83 on 01/03/22. A 50-day SMA is recorded $47.00, while a 200-day SMA reached $35.39. Nevertheless, trading volume fell to 1.47 million shares from 1.21 million shares the previous day.
Support And Resistance Levels for Helmerich & Payne Inc. (HP)
According to the 24-hour chart, there is a support level at 37.26, which, if violated, would cause prices to drop to 36.19. In the upper region, resistance lies at 39.48. The next price resistance is at 40.63. RSI (Relative Strength Index) is 31.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.69, which suggests the price will decrease in the coming days. Percent R is at 94.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Helmerich & Payne Inc. subject to short interest?
Stocks of Helmerich & Payne Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 0.66 million shares to 5.12 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 4.46 million shares. A jump of 12.89% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.39 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.39.
Which companies own the most shares of Helmerich & Payne Inc. (HP)?
According to BlackRock Fund Advisors filings, the company currently owns 16,002,407 shares, which is about 15.20% of the total HP shares outstanding. The investor’s shares have plunged by -284,017 from its previous 13-F filing of 16286424.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $581,390,997. State Farm Investment Management reduced a 0.00% interest valued at $415.75 million while Dimensional Fund Advisors LP purchased a 470,605 stake. A total of 267,025 shares of Helmerich & Payne Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 27,828 were bought by Van Eck Associates Corp. In its current portfolio, Boston Trust Walden, Inc. holds 1,977,694 shares valued at $99.58 million.
In terms of Helmerich & Payne Inc. share price expectations, FactSet research, analysts set an average price target of $53.83 in the next 12 months, up nearly 35.65% from the previous closing price of $39.07. Analysts anticipate Helmerich & Payne Inc. stock to reach $62.00 by 2022, with the lowest price target being $44.00. In spite of this, 20 analysts ranked Helmerich & Payne Inc. stock as an Overweight at the end of 2022.