Helmerich & Payne, Inc. (NYSE:HP – Get Free Report)’s stock price traded down 2.8% during trading on Friday after Citigroup lowered their price target on the stock from $41.00 to $33.00. Citigroup currently has a neutral rating on the stock. Helmerich & Payne traded as low as $29.71 and last traded at $29.75. 831,379 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 1,322,720 shares. The stock had previously closed at $30.61.
HP has been the subject of several other reports. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Piper Sandler dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. The Goldman Sachs Group dropped their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Finally, Bank of America decreased their price target on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.88.
Institutional Trading of Helmerich & Payne
A number of large investors have recently bought and sold shares of HP. The Manufacturers Life Insurance Company lifted its stake in shares of Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock worth $30,487,000 after acquiring an additional 760,554 shares during the period. American Century Companies Inc. boosted its holdings in Helmerich & Payne by 38.1% in the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after purchasing an additional 513,647 shares in the last quarter. ARGA Investment Management LP increased its position in Helmerich & Payne by 55.4% during the 1st quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock worth $57,988,000 after purchasing an additional 491,589 shares during the period. Earnest Partners LLC increased its position in Helmerich & Payne by 15.7% during the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after purchasing an additional 471,420 shares during the period. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $15,367,000. Institutional investors and hedge funds own 96.05% of the company’s stock.
Helmerich & Payne Stock Performance
The stock has a 50 day moving average of $35.19 and a two-hundred day moving average of $37.48. The stock has a market capitalization of $2.95 billion, a PE ratio of 8.50, a P/E/G ratio of 3.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87.
Helmerich & Payne (NYSE:HP – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Research analysts expect that Helmerich & Payne, Inc. will post 3.57 EPS for the current fiscal year.
Helmerich & Payne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.35%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.
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.