Helmerich & Payne (NYSE:HP) Reaches New 1-Year High – Should You Buy?

Helmerich & Payne, Inc. (NYSE:HP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $36.91 and last traded at $36.8450, with a volume of 145996 shares changing hands. The stock had previously closed at $36.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Cowen boosted their price objective on Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, February 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Helmerich & Payne in a report on Wednesday, January 14th. Morgan Stanley reiterated an “underweight” rating and set a $28.00 price target on shares of Helmerich & Payne in a research note on Wednesday, January 21st. Citigroup lifted their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their target price for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $36.20.

Helmerich & Payne Price Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58. The company has a 50-day simple moving average of $33.90 and a 200-day simple moving average of $28.45. The stock has a market cap of $3.66 billion, a PE ratio of -11.47 and a beta of 0.54.

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 for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Sell-side analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, May 18th. Helmerich & Payne’s dividend payout ratio is presently -31.35%.

Insider Transactions at Helmerich & Payne

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

Hedge Funds Weigh In On Helmerich & Payne

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

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.