Helmerich & Payne (NYSE:HP) Hits New 52-Week Low – Here’s What Happened

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

Analysts Set New Price Targets

A number of brokerages have issued reports on HP. Evercore ISI reiterated an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Argus raised shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Barclays cut their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.25.

Helmerich & Payne Price Performance

The company 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. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $31.88 and a 200 day moving average price of $33.01.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that Helmerich & Payne, Inc. will post 2.95 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

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

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay bought 20,000 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares of the company’s stock, valued at $1,478,730.48. This represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Helmerich & Payne

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