Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) was up 3.7% during mid-day trading on Monday . The company traded as high as $26.07 and last traded at $26.20. Approximately 760,580 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 1,636,779 shares. The stock had previously closed at $25.26.
Analyst Ratings Changes
Several research analysts have commented on the company. Morgan Stanley restated an "underweight" rating and set a $27.00 price objective on shares of Helmerich & Payne in a report on Thursday, March 27th. Royal Bank of Canada cut their price target on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Citigroup raised shares of 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. Argus upgraded shares of Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Finally, Barclays reduced their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.11.
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Helmerich & Payne Stock Performance
The firm's 50 day moving average is $27.19 and its 200 day moving average is $31.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The stock has a market cap of $2.25 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.43.
Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.
Helmerich & Payne Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.41%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne's dividend payout ratio is presently 32.89%.
Insider Transactions at Helmerich & Payne
In related news, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction dated 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 owns 54,606 shares of the company's stock, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Lindsay acquired 20,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares of the company's stock, 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. Insiders own 4.51% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Helmerich & Payne in the 4th quarter worth approximately $27,000. Quarry LP purchased a new stake in shares of Helmerich & Payne in the 3rd quarter valued at $48,000. Versant Capital Management Inc increased its stake in shares of Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 867 shares during the period. Covestor Ltd increased its stake in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock worth $76,000 after acquiring an additional 907 shares during the period. Finally, Steph & Co. purchased a new position in shares of Helmerich & Payne during the fourth quarter worth $87,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.
About Helmerich & Payne
(
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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.
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