Helmerich & Payne (NYSE:HP) Hits New 1-Year Low – Here’s Why

Helmerich & Payne, Inc. (NYSE:HP)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $23.50 and last traded at $23.75, with a volume of 496894 shares trading hands. The stock had previously closed at $26.78.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays lowered their target price on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. 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 note on Wednesday, January 15th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Argus upgraded shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.11.

Helmerich & Payne Stock Performance

The company’s 50-day moving average is $27.44 and its two-hundred day moving average is $31.54. 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 market cap of $2.25 billion, a P/E ratio of 7.48, a price-to-earnings-growth ratio of 3.52 and a beta of 1.43.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Equities analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.42%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In other news, CEO John W. Lindsay purchased 20,000 shares of the stock in a transaction 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 completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Belgacem Chariag bought 37,356 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased 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 $1,478,730.48. The trade was a 216.56 % 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of Helmerich & Payne in the 4th quarter worth about $27,000. Quarry LP purchased a new stake in Helmerich & Payne in the third quarter worth about $48,000. Covestor Ltd boosted its position 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 valued at $76,000 after acquiring an additional 907 shares in the last quarter. Steph & Co. purchased a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $87,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Helmerich & Payne by 82.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 1,268 shares in the last quarter. 96.05% of the stock is 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.