Helmerich & Payne (NYSE:HP) Trading 12.4% Higher – Time to Buy?

Shares of Helmerich & Payne, Inc. (NYSE:HP) rose 12.4% during mid-day trading on Thursday . The company traded as high as $37.58 and last traded at $37.4020. 425,789 shares traded hands during trading, a decline of 69% from the average session volume of 1,383,403 shares. The stock had previously closed at $33.28.

Analyst Ratings Changes

A number of research analysts have recently commented on HP shares. Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Susquehanna reduced their price objective on shares of Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th. The Goldman Sachs Group raised their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Barclays upped their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $39.80.

Helmerich & Payne Stock Up 12.5%

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The stock has a 50 day moving average price of $34.99 and a 200 day moving average price of $35.57. The company has a market cap of $3.74 billion, a P/E ratio of -9.88 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Research analysts expect that Helmerich & Payne, Inc. will post -0.11 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Helmerich & Payne by 4.4% during the first quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after buying an additional 4,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Helmerich & Payne by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock valued at $1,531,000 after buying an additional 3,611 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Helmerich & Payne by 39,685.1% during the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after acquiring an additional 34,526 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 852 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after acquiring an additional 54,758 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

About Helmerich & Payne

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.