Helmerich & Payne (NYSE:HP) Hits New 52-Week Low - Time to Sell?

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.52 and last traded at $25.64, with a volume of 588362 shares traded. The stock had previously closed at $26.51.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup raised shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI restated an "in-line" rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Royal Bank of Canada lowered their price objective 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. Finally, Argus raised Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.25.

Helmerich & Payne Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The firm has a fifty day moving average of $30.90 and a 200 day moving average of $32.49. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 3.52 and a beta of 1.37.

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

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.96%. Helmerich & Payne's payout ratio is currently 32.89%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction on Monday, February 10th. The shares were bought at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the acquisition, the director now owns 54,606 shares of the company's stock, valued at $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares in the company, valued at $19,042,945.70. This trade represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company's stock.

Institutional Trading of Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its position in shares of Helmerich & Payne by 18.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company's stock valued at $1,784,000 after acquiring an additional 9,004 shares during the period. Private Capital Management LLC purchased a new stake in Helmerich & Payne during the third quarter worth $1,095,000. Legato Capital Management LLC grew its holdings in Helmerich & Payne by 93.9% in the fourth quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company's stock valued at $2,436,000 after purchasing an additional 36,828 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Helmerich & Payne by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company's stock worth $45,268,000 after buying an additional 62,377 shares in the last quarter. Finally, Hara Capital LLC boosted its position in shares of Helmerich & Payne by 519.3% in the 4th quarter. Hara Capital LLC now owns 61,114 shares of the oil and gas company's stock worth $1,957,000 after buying an additional 51,245 shares in the last quarter. Hedge funds and other 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.