Helmerich & Payne (NYSE:HP) Upgraded at Argus

Argus upgraded shares of Helmerich & Payne (NYSE:HP - Free Report) to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI reissued an "in-line" rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Barclays cut their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada cut their price target 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. Citigroup upgraded Helmerich & Payne from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of "Hold" and a consensus price target of $38.75.

Helmerich & Payne Stock Performance

Shares of HP stock traded down $0.76 during midday trading on Tuesday, hitting $26.53. 1,895,995 shares of the company were exchanged, compared to its average volume of 1,632,362. Helmerich & Payne has a 52 week low of $26.32 and a 52 week high of $44.11. The firm has a market capitalization of $2.64 billion, a P/E ratio of 8.73, a PEG ratio of 3.41 and a beta of 1.37. The firm's 50 day moving average price is $32.35 and its two-hundred day moving average price is $33.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 2.81.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Helmerich & Payne will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne's dividend payout ratio (DPR) is presently 32.89%.

Insiders Place Their Bets

In other news, Director Belgacem Chariag purchased 37,356 shares of the company's stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The shares were purchased 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. 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.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its stake in shares of Helmerich & Payne by 38.9% in the third quarter. Exchange Traded Concepts LLC now owns 31,803 shares of the oil and gas company's stock worth $967,000 after purchasing an additional 8,907 shares during the last quarter. Creative Planning increased its position in shares of Helmerich & Payne by 13.3% during the third quarter. Creative Planning now owns 23,656 shares of the oil and gas company's stock valued at $720,000 after acquiring an additional 2,774 shares during the last quarter. AlphaMark Advisors LLC boosted its position in Helmerich & Payne by 13.1% in the third quarter. AlphaMark Advisors LLC now owns 9,086 shares of the oil and gas company's stock worth $276,000 after purchasing an additional 1,055 shares during the last quarter. Blue Trust Inc. boosted its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock worth $46,000 after purchasing an additional 854 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Helmerich & Payne by 33.6% during the 3rd quarter. Raymond James & Associates now owns 93,310 shares of the oil and gas company's stock worth $2,838,000 after purchasing an additional 23,459 shares during the period. 96.05% of the stock is currently owned by institutional investors.

About Helmerich & Payne

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.