Helmerich & Payne (NYSE:HP) Sets New 52-Week Low - Here's Why

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $23.50 and last traded at $23.75, with a volume of 496894 shares changing hands. The stock had previously closed at $26.78.

Analysts Set New Price Targets

A number of research firms have weighed in on HP. Citigroup reduced their target price on Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday. Argus upgraded Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Royal Bank of Canada lowered their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Barclays cut their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $27.00 price target on shares of Helmerich & Payne in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne presently has a consensus rating of "Hold" and a consensus target price of $35.22.

Helmerich & Payne Trading Down 6.1 %

The stock has a market cap of $1.87 billion, a PE ratio of 6.20, a P/E/G ratio of 3.52 and a beta of 1.00. The business's fifty day moving average is $26.05 and its 200 day moving average is $31.13. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.31%. Helmerich & Payne's dividend payout ratio (DPR) is 32.89%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the purchase, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Lindsay bought 20,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the transaction, the chief executive officer now owns 691,214 shares in the company, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

A number of large investors have recently added to or reduced their stakes in HP. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Helmerich & Payne by 18.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company's stock valued at $13,242,000 after purchasing an additional 64,971 shares in the last quarter. Private Capital Management LLC bought a new position in shares of Helmerich & Payne during the third quarter worth about $1,095,000. Fisher Asset Management LLC increased its position in shares of Helmerich & Payne by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company's stock valued at $45,268,000 after acquiring an additional 62,377 shares during the last quarter. Legato Capital Management LLC boosted its stake in shares of Helmerich & Payne by 93.9% during the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company's stock worth $2,436,000 after acquiring an additional 36,828 shares during the period. Finally, Magnetar Financial LLC increased its stake in shares of Helmerich & Payne by 389.3% during the fourth quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company's stock worth $1,241,000 after purchasing an additional 30,833 shares during the period. Institutional investors own 96.05% of the company's stock.

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.