Helmerich & Payne (NYSE:HP) Shares Down 5.7% - Should You Sell?

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) shares were down 5.7% during mid-day trading on Friday . The stock traded as low as $32.76 and last traded at $32.81. Approximately 113,789 shares traded hands during trading, a decline of 92% from the average daily volume of 1,376,993 shares. The stock had previously closed at $34.79.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HP shares. Citigroup dropped their price objective on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, September 13th. Barclays cut their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 20th. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Royal Bank of Canada reduced their price target on Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Friday, November 15th. Finally, The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne presently has an average rating of "Hold" and a consensus price target of $38.57.

Helmerich & Payne Stock Performance

The stock has a market cap of $3.28 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 4.29 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The stock's 50 day simple moving average is $34.50 and its two-hundred day simple moving average is $34.72.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting analysts' consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. During the same period in the prior year, the business earned $0.69 EPS. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Monday, November 18th. Helmerich & Payne's dividend payout ratio is presently 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of Helmerich & Payne by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company's stock worth $4,793,000 after purchasing an additional 666 shares in the last quarter. Tidal Investments LLC lifted its stake in Helmerich & Payne by 66.4% in the third quarter. Tidal Investments LLC now owns 70,402 shares of the oil and gas company's stock valued at $2,142,000 after acquiring an additional 28,101 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Helmerich & Payne in the 3rd quarter valued at about $452,000. Geode Capital Management LLC increased its stake in shares of Helmerich & Payne by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company's stock worth $68,373,000 after purchasing an additional 22,875 shares during the last quarter. Finally, Barclays PLC lifted its stake in Helmerich & Payne by 320.2% in the 3rd quarter. Barclays PLC now owns 198,415 shares of the oil and gas company's stock valued at $6,035,000 after purchasing an additional 151,196 shares during the last quarter. 96.05% of the stock is currently 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.