Helmerich & Payne (NYSE:HP) Sets New 12-Month Low – Should You Sell?

Helmerich & Payne, Inc. (NYSE:HP)’s share price hit a new 52-week low on Tuesday . The company traded as low as $26.32 and last traded at $25.74, with a volume of 1895995 shares. The stock had previously closed at $27.29.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Argus upgraded Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Evercore ISI reissued an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Royal Bank of Canada decreased their price target 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. Finally, Barclays dropped their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.25.

Helmerich & Payne Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The business’s 50-day moving average price is $31.88 and its two-hundred day moving average price is $33.01. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 3.39 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data 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 net margin of 11.02% and a return on equity of 11.31%. On average, research analysts forecast that Helmerich & Payne, Inc. will post 2.95 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price 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 represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Lindsay acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by insiders.

Institutional Trading of Helmerich & Payne

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Investment Management LLC acquired a new stake in Helmerich & Payne in the fourth quarter worth $27,000. Covestor Ltd grew its position in shares of Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 643 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Helmerich & Payne by 127.8% in the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares during the period. Quarry LP bought a new stake in Helmerich & Payne in the 3rd quarter valued at about $48,000. Finally, Eastern Bank bought a new stake in Helmerich & Payne in the 3rd quarter valued at about $61,000. 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.