Helmerich & Payne (NYSE:HP) Shares Up 5.5% – Should You Buy?

Helmerich & Payne, Inc. (NYSE:HP)’s share price traded up 5.5% on Friday . The company traded as high as $35.83 and last traded at $35.7040. 915,941 shares were traded during mid-day trading, a decline of 48% from the average session volume of 1,749,473 shares. The stock had previously closed at $33.85.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HP shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 14th. Morgan Stanley restated an “underweight” rating and set a $28.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their price target for the company from $24.00 to $34.00 in a research note on Wednesday, December 10th. Citigroup raised their price target on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Finally, Evercore set a $37.00 price objective on Helmerich & Payne in a research report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.20.

Helmerich & Payne Stock Up 5.5%

The firm’s 50-day simple moving average is $33.62 and its 200 day simple moving average is $28.13. The company has a market cap of $3.57 billion, a P/E ratio of -11.19 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $990.16 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is -31.35%.

Insider Activity

In other news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares of the company’s stock, valued at $13,968,188.20. This represents a 13.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HP. New York State Teachers Retirement System raised its holdings in Helmerich & Payne by 0.4% in the third quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock worth $2,203,000 after purchasing an additional 400 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Helmerich & Payne by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock valued at $653,000 after buying an additional 400 shares during the period. Arizona State Retirement System increased its position in shares of Helmerich & Payne by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock valued at $650,000 after buying an additional 416 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Helmerich & Payne by 21.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after buying an additional 437 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.