Helmerich & Payne (NYSE:HP) Trading 6.6% Higher – Should You Buy?

Helmerich & Payne, Inc. (NYSE:HP)’s share price traded up 6.6% during mid-day trading on Tuesday . The stock traded as high as $18.53 and last traded at $18.78. 276,209 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,661,226 shares. The stock had previously closed at $17.61.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HP shares. Susquehanna lowered their price target on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Citigroup reaffirmed a “neutral” rating and set a $19.00 price objective (down previously from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Barclays dropped their target price on Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price target on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Finally, Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.73.

Helmerich & Payne Stock Up 7.0%

The company has a market cap of $1.87 billion, a P/E ratio of 6.21, a price-to-earnings-growth ratio of 3.52 and a beta of 0.83. 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 has a fifty day moving average of $18.44 and a 200 day moving average of $26.15.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, 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, August 29th. Investors of record on Friday, August 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.31%. Helmerich & Payne’s dividend payout ratio is currently 45.66%.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC bought a new position in shares of Helmerich & Payne in the fourth quarter worth approximately $27,000. Versant Capital Management Inc boosted its holdings in Helmerich & Payne by 104.2% in 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 period. Covestor Ltd boosted its holdings in Helmerich & Payne by 61.3% in the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after buying an additional 907 shares during the period. Quarry LP purchased a new stake in shares of Helmerich & Payne during the first quarter worth about $81,000. Finally, GAMMA Investing LLC raised its position in shares of Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock valued at $83,000 after buying an additional 1,459 shares during the last quarter. Institutional investors 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.