The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Helmerich & Payne Inc. shares valued at $215,700 were sold by Bell John R. on Oct 26. At $50.00 per share, Bell John R. sold 4,314 shares. The insider’s holdings dropped to 117,395 shares worth approximately $5.85 million following the completion of this transaction.
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Also, Adams Raymond John III sold 1,500 shares, netting a total of over 71,250 in proceeds. Following the sale of shares at $47.50 each, the insider now holds 52,935 shares.
Before that, Adams Raymond John III had sold 1,500 shares from its account. In a trade valued at $60,000, the SVP SALES, MARKETING & DIGITAL traded Helmerich & Payne Inc. shares for $40.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $2.71 million.
Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late September. As of July 14, 2022, Barclays has increased its “an Equal weight” rating to a “an Overweight” for HP. Earlier on April 12, 2022, The Benchmark Company initiated its rating. Their recommendation was “a Buy” for HP stock.
Analyzing HP Stock Performance
On Thursday, Helmerich & Payne Inc. [NYSE: HP] rose 4.86% to $49.84. The stock’s lowest price that day was $46.72, but it reached a high of $50.16 in the same session. During the last five days, there has been a surge of approximately 0.08%. Over the course of the year, Helmerich & Payne Inc. shares have jumped approximately 110.30%. 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 $43.25, while a 200-day SMA reached $42.21. Nevertheless, trading volume fell to 0.85 million shares from 1.29 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 47.65, which, if violated, would cause prices to drop to 45.47. In the upper region, resistance lies at 51.09. The next price resistance is at 52.35. RSI (Relative Strength Index) is 64.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.32, which suggests the price will increase in the coming days. Percent R is at 22.26%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Helmerich & Payne Inc. subject to short interest?
Stocks of Helmerich & Payne Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 80000.0 shares to 5.01 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.09 million shares. A decline of -1.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.47 of the overall float, the days-to-cover ratio (short ratio) decline to 3.47.
Which companies own the most shares of Helmerich & Payne Inc. (HP)?
According to BlackRock Fund Advisors filings, the company currently owns 16,056,293 shares, which is about 15.25% of the total HP shares outstanding. The investor’s shares have appreciated by 53,886 from its previous 13-F filing of 16002407.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $430,391,283. A total of 198,322 shares of Helmerich & Payne Inc. were bought by Dimensional Fund Advisors LP during the quarter, and -69,732 were sold by SSgA Funds Management, Inc. In its current portfolio, Van Eck Associates Corp. holds 2,239,959 shares valued at $82.81 million.
In terms of Helmerich & Payne Inc. share price expectations, FactSet research, analysts set an average price target of $54.71 in the next 12 months, up nearly 15.72% from the previous closing price of $47.53. Analysts anticipate Helmerich & Payne Inc. stock to reach $66.00 by 2022, with the lowest price target being $41.00. In spite of this, 21 analysts ranked Helmerich & Payne Inc. stock as an Overweight at the end of 2022. On March 14, 2022, Seaport Research Partners assigned a price target of “a Buy” to the stock and upgraded coverage with a $50.