Helmerich & Payne (NYSE:HP) Sets New 12-Month Low – Here’s Why

Helmerich & Payne, Inc. (NYSE:HP) shares reached a new 52-week low on Wednesday . The stock traded as low as $26.50 and last traded at $26.77, with a volume of 156453 shares trading hands. The stock had previously closed at $27.24.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Barclays dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.75.

Helmerich & Payne Price Performance

The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.72 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. The stock’s 50-day moving average is $32.80 and its two-hundred day moving average is $33.49.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Helmerich & Payne, Inc. will post 3.11 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. Helmerich & Payne’s dividend payout ratio (DPR) is 32.89%.

Insider Activity

In other news, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Lindsay acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This represents 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HP. Pictet Asset Management Holding SA lifted its position in Helmerich & Payne by 18.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,255 shares of the oil and gas company’s stock valued at $488,000 after acquiring an additional 2,414 shares during the last quarter. Norges Bank acquired a new position in shares of Helmerich & Payne during the fourth quarter worth $21,572,000. JPMorgan Chase & Co. lifted its holdings in shares of Helmerich & Payne by 21.7% during the 4th quarter. JPMorgan Chase & Co. now owns 721,831 shares of the oil and gas company’s stock valued at $23,113,000 after purchasing an additional 128,501 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Helmerich & Payne by 16.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 671,886 shares of the oil and gas company’s stock worth $21,514,000 after purchasing an additional 93,315 shares in the last quarter. Finally, Napatree Capital LLC boosted its position in shares of Helmerich & Payne by 2.5% in the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock worth $668,000 after purchasing an additional 511 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

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.