Helmerich & Payne (NYSE:HP) Hits New 12-Month High – Still a Buy?
by Tristan Rich · The Markets DailyShares of Helmerich & Payne, Inc. (NYSE:HP – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.87 and last traded at $37.26, with a volume of 1464572 shares trading hands. The stock had previously closed at $37.13.
Wall Street Analyst Weigh In
HP has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Royal Bank Of Canada upped their target price on Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Piper Sandler upped their price objective on Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $36.80.
View Our Latest Research Report on HP
Helmerich & Payne Stock Up 1.6%
The stock has a fifty day moving average price of $34.54 and a two-hundred day moving average price of $29.06. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -11.58 and a beta of 0.54. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75.
Helmerich & Payne (NYSE:HP – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. During the same quarter last year, the company posted $0.71 earnings per share. The company’s revenue was up 50.2% on a year-over-year basis. As a group, sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.
Helmerich & Payne Announces Dividend
The firm 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, May 18th. Helmerich & Payne’s dividend payout ratio is presently -31.35%.
Insider Activity at Helmerich & Payne
In other news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the sale, the senior vice president directly owned 175,589 shares in the company, valued at approximately $6,430,069.18. The trade was a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.
Hedge Funds Weigh In On Helmerich & Payne
Hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its position in shares of Helmerich & Payne by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock valued at $2,203,000 after acquiring an additional 400 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Helmerich & Payne by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock worth $653,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System increased its position 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 worth $650,000 after purchasing an additional 416 shares during the period. Smartleaf Asset Management LLC increased its position 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 worth $55,000 after purchasing an additional 437 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in 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 in the last quarter. Institutional investors 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.