Helmerich & Payne (NYSE:HP) Shares Up 3.7% - Here's Why

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s share price shot up 3.7% during mid-day trading on Monday . The company traded as high as $26.07 and last traded at $26.20. 760,580 shares were traded during trading, a decline of 54% from the average session volume of 1,636,779 shares. The stock had previously closed at $25.26.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HP. Evercore ISI reissued an "in-line" rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Argus upgraded shares of Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Barclays reduced their price target on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Citigroup upgraded Helmerich & Payne from a "neutral" rating to a "buy" rating and upped their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada reduced their target price on 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $36.11.

Helmerich & Payne Price Performance

The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The company's 50 day moving average is $27.19 and its 200 day moving average is $31.48. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 3.52 and a beta of 1.43.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced 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%. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.06%. Helmerich & Payne's payout ratio is 32.89%.

Insider Buying and Selling

In other news, CEO John W. Lindsay acquired 20,000 shares of the firm's 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. The trade was a 2.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Belgacem Chariag bought 37,356 shares of the business's stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $27.08 per share, with a total value 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 approximately $1,478,730.48. The trade was 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 owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in shares of Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after buying an additional 867 shares during the last quarter. Quarry LP acquired a new position in shares of Helmerich & Payne during the third quarter worth $48,000. Covestor Ltd lifted its stake in shares of Helmerich & Payne by 61.3% in the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock valued at $76,000 after acquiring an additional 907 shares during the last quarter. Finally, Steph & Co. acquired a new stake in shares of Helmerich & Payne during the 4th quarter valued at $87,000. Institutional investors and hedge funds 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.