Shares of Helmerich & Payne, Inc. (NYSE:HP) rose 5.9% on Wednesday . The company traded as high as $46.59 and last traded at $46.35. Approximately 3,077,068 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 2,185,410 shares. The stock had previously closed at $43.77.

HP has been the topic of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) lowered Helmerich & Payne from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $63.00 to $45.00 in a research note on Monday, May 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $19.00 target price on shares of Helmerich & Payne in a research note on Wednesday, May 24th. Royal Bank Of Canada reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Friday, May 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 target price on shares of Helmerich & Payne in a research note on Monday, May 29th. Finally, Jefferies Group LLC set a $54.00 target price on Helmerich & Payne and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Helmerich & Payne currently has an average rating of “Hold” and an average target price of $55.52.

The firm’s market capitalization is $5.03 billion. The firm has a 50 day moving average of $47.92 and a 200 day moving average of $57.46.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The business had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, analysts forecast that Helmerich & Payne, Inc. will post ($1.32) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.04%. Helmerich & Payne’s payout ratio is currently -167.66%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HP. ProShare Advisors LLC increased its holdings in shares of Helmerich & Payne by 1.1% in the 1st quarter. ProShare Advisors LLC now owns 18,079 shares of the oil and gas company’s stock valued at $1,204,000 after acquiring an additional 197 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Helmerich & Payne by 9.7% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,390 shares of the oil and gas company’s stock valued at $625,000 after acquiring an additional 833 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Helmerich & Payne by 50.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,009 shares of the oil and gas company’s stock valued at $2,131,000 after acquiring an additional 10,700 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Helmerich & Payne by 73.7% in the 1st quarter. Wells Fargo & Company MN now owns 381,200 shares of the oil and gas company’s stock valued at $25,377,000 after acquiring an additional 161,782 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Helmerich & Payne by 4.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,437 shares of the oil and gas company’s stock valued at $1,161,000 after acquiring an additional 716 shares during the last quarter.

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About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.