Helmerich & Payne (NYSE:HP) Stock Price Up 3.7% – Time to Buy?

Helmerich & Payne, Inc. (NYSE:HP)’s share price traded up 3.7% on Monday . The stock traded as high as $26.07 and last traded at $26.20. 760,580 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 1,636,779 shares. The stock had previously closed at $25.26.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Argus upgraded Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Morgan Stanley reiterated an “underweight” rating and issued a $27.00 target price on shares of Helmerich & Payne in a report on Thursday, March 27th. Barclays decreased their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.11.

Helmerich & Payne Stock Performance

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 business’s 50-day moving average price is $27.62 and its 200-day moving average price is $31.57. The stock has a market cap of $2.66 billion, a P/E ratio of 8.80, a P/E/G ratio of 3.52 and a beta of 1.43.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm 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 is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%. Helmerich & Payne’s payout ratio is 32.89%.

Insider Transactions at Helmerich & Payne

In other news, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the acquisition, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the acquisition, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in Helmerich & Payne in the fourth quarter valued at approximately $27,000. Quarry LP acquired a new stake in shares of Helmerich & Payne during the third quarter worth about $48,000. Covestor Ltd increased its position 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 valued at $76,000 after acquiring an additional 907 shares during the period. Steph & Co. acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth $87,000. Finally, Smartleaf Asset Management LLC lifted its stake 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 during the period. Hedge funds and other 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.