Helmerich & Payne (NYSE:HP) Shares Down 4.1% – Time to Sell?

Helmerich & Payne, Inc. (NYSE:HP) shares were down 4.1% during trading on Monday . The company traded as low as $24.73 and last traded at $24.81. Approximately 596,958 shares traded hands during trading, a decline of 57% from the average daily volume of 1,401,258 shares. The stock had previously closed at $25.86.

Wall Street Analyst Weigh In

HP has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. 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 research note on Wednesday, January 15th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.25.

Helmerich & Payne Stock Down 2.4 %

The business’s 50 day moving average is $29.87 and its 200-day moving average is $32.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) 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%. Equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 3.96%. Helmerich & Payne’s dividend payout ratio is 32.89%.

Insider Transactions at Helmerich & Payne

In other news, CEO John W. Lindsay purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the acquisition, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Belgacem Chariag bought 37,356 shares of the company’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of 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 position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new position in Helmerich & Payne during the fourth quarter valued at approximately $27,000. Quarry LP acquired a new stake in Helmerich & Payne during the 3rd quarter worth $48,000. Covestor Ltd raised its stake in Helmerich & Payne by 61.3% during 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. Steph & Co. acquired a new stake in Helmerich & Payne during the 4th quarter worth $87,000. Finally, Smartleaf Asset Management LLC raised its stake in Helmerich & Payne by 82.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after buying an additional 1,268 shares during the period. 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.