Helmerich & Payne (NYSE:HP) Shares Down 6% – Here’s Why

Helmerich & Payne, Inc. (NYSE:HP)’s share price traded down 6% during mid-day trading on Tuesday . The stock traded as low as $27.31 and last traded at $27.2090. 505,081 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,875,064 shares. The stock had previously closed at $28.94.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Helmerich & Payne from $20.00 to $27.00 and gave the stock an “in-line” rating in a report on Wednesday, November 19th. Barclays lifted their target price on Helmerich & Payne from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. The Goldman Sachs Group raised Helmerich & Payne from a “sell” rating to a “neutral” rating and increased their price target for the company from $20.00 to $28.00 in a research note on Thursday, November 20th. Morgan Stanley set a $26.00 price objective on Helmerich & Payne in a research report on Monday. Finally, Royal Bank Of Canada upped their target price on Helmerich & Payne from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.10.

Helmerich & Payne Price Performance

The stock has a market capitalization of $2.67 billion, a P/E ratio of -16.20 and a beta of 0.56. The business has a fifty day simple moving average of $26.52 and a 200 day simple moving average of $21.17. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.27). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The company’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. On average, analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. Helmerich & Payne’s payout ratio is presently -59.88%.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC raised its stake in shares of Helmerich & Payne by 1,377.8% during the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,240 shares during the period. EverSource Wealth Advisors LLC increased its stake in Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,582 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 554 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Helmerich & Payne by 184.3% during the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,787 shares during the last quarter. 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.