Helmerich & Payne (NYSE:HP) Sets New 12-Month Low - Here's What Happened

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The company traded as low as $26.50 and last traded at $26.77, with a volume of 156453 shares. The stock had previously closed at $27.24.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HP. Royal Bank of Canada reduced their price target on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Evercore ISI reiterated an "in-line" rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays dropped their price objective on Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 20th. Argus upgraded Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Finally, Citigroup upgraded Helmerich & Payne from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. One research analyst has 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.com, the company presently has an average rating of "Hold" and an average price target of $38.75.

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Helmerich & Payne Trading Down 2.8 %

The business has a 50 day moving average of $32.35 and a two-hundred day moving average of $33.27. The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.64 billion, a P/E ratio of 8.73, a PEG ratio of 3.41 and a beta of 1.37.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Analysts predict that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne's dividend payout ratio (DPR) is currently 32.89%.

Insider Transactions at Helmerich & Payne

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

Hedge Funds Weigh In On Helmerich & Payne

Large investors have recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in Helmerich & Payne in the fourth quarter valued at about $27,000. Covestor Ltd raised its position in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. raised its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP bought a new position in Helmerich & Payne in the third quarter valued at about $48,000. Finally, Eastern Bank bought a new position in Helmerich & Payne in the third quarter valued at about $61,000. 96.05% of the stock is currently owned by institutional investors.

About Helmerich & Payne

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.