Helmerich & Payne (NYSE:HP) Stock Price Up 4.8% – Still a Buy?

Helmerich & Payne, Inc. (NYSE:HP)’s share price was up 4.8% during trading on Tuesday . The company traded as high as $20.17 and last traded at $20.15. Approximately 527,987 shares were traded during trading, a decline of 65% from the average daily volume of 1,504,759 shares. The stock had previously closed at $19.23.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Citigroup decreased their price objective on shares of Helmerich & Payne from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Susquehanna cut their target price on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research note on Monday. Argus raised Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada lowered their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.78.

Helmerich & Payne Stock Up 4.8 %

The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $24.54 and a 200 day moving average price of $30.58.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s payout ratio is presently 32.89%.

Insider Activity

In other news, Director Belgacem Chariag bought 37,356 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the acquisition, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John W. Lindsay purchased 20,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently modified their holdings of HP. Kestra Investment Management LLC bought a new stake in Helmerich & Payne in the fourth quarter valued at $27,000. Versant Capital Management Inc increased its position in Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 867 shares in the last quarter. Covestor Ltd raised its stake in Helmerich & Payne by 61.3% during the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after buying an additional 907 shares during the period. GAMMA Investing LLC boosted its holdings in Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 1,459 shares in the last quarter. Finally, Steph & Co. acquired a new stake in Helmerich & Payne in the fourth quarter valued at approximately $87,000. 96.05% of the stock is currently owned by institutional investors.

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.