Helmerich & Payne (NYSE:HP) Shares Down 2.2% - Here's What Happened

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s share price was down 2.2% on Tuesday . The stock traded as low as $19.64 and last traded at $19.34. Approximately 28,250 shares changed hands during trading, a decline of 98% from the average daily volume of 1,729,085 shares. The stock had previously closed at $19.78.

Analyst Upgrades and Downgrades

HP has been the subject of a number of research reports. Royal Bank of Canada decreased their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Citigroup lowered their price target on shares of Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Barclays decreased their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Argus raised Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $27.00 price objective on shares of Helmerich & Payne in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $31.78.

Helmerich & Payne Stock Down 1.2 %

The firm has a market capitalization of $1.98 billion, a PE ratio of 6.57, a PEG ratio of 3.52 and a beta of 1.00. 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 company has a fifty day simple moving average of $23.59 and a two-hundred day simple moving average of $29.95.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (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%. Analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued 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 yield of 5.01%. Helmerich & Payne's dividend payout ratio is currently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In other news, Director Belgacem Chariag purchased 37,356 shares of the business's stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Lindsay purchased 20,000 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The shares were acquired 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 of the company's stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company's stock.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne in the fourth quarter worth about $27,000. Versant Capital Management Inc raised its position in Helmerich & Payne by 104.2% during the 1st 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. Covestor Ltd lifted its stake in Helmerich & Payne by 61.3% during 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 period. GAMMA Investing LLC boosted its holdings in shares of Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Steph & Co. acquired a new stake in shares of Helmerich & Payne in the fourth quarter worth $87,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.