A Director at Helmerich & Payne (NYSE: HP) is Buying Shares

By Carrie Williams

Today, a Director at Helmerich & Payne (NYSE: HP), Thomas Petrie, bought shares of HP for $133.7K.

Following this transaction Thomas Petrie’s holding in the company was increased by 30.18% to a total of $448.6K. In addition to Thomas Petrie, 2 other HP executives reported Buy trades in the last month.

The company has a one year high of $85.78 and a one year low of $55.75. Currently, Helmerich & Payne has an average volume of 1.31M.

15 different firms, including Argus Research and Bernstein, currently also have a Buy rating on the stock. HP is a controversial stock, with 4 analysts recommending Buy, while 3 recommends selling the stock. Based on 8 analyst ratings, the analyst consensus is Hold with an average price target of $74.63, reflecting a -9.8% downside.

The insider sentiment on Helmerich & Payne has been negative according to 42 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Helmerich & Payne, Inc. engages in contract drilling of oil and gas well. It operates through the following segments: U.S. Land, Offshore, and International Land. The U.S. Land segment operates its drilling business primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. The Offshore segment conducts its business in the Gulf of Mexico and Equatorial Guinea. The International Land segment operates in six international locations including Ecuador, Colombia, Argentina, Bahrain, United Arab Emirates, and Mozambique. The company was founded by Walter Helmerich II and William Payne in 1920 and is headquartered in Tulsa, OK.