Helmerich & Payne (NYSE:HP) Trading 4.9% Higher – Should You Buy?

Helmerich & Payne, Inc. (NYSE:HP) shares rose 4.9% during mid-day trading on Monday . The company traded as high as $44.98 and last traded at $44.6470. 78,403 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,392,394 shares. The stock had previously closed at $42.55.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HP shares. Wall Street Zen raised shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Royal Bank Of Canada lifted their price target on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Morgan Stanley boosted their price target on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, August 20th. Weiss Ratings cut Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group raised their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.00.

Helmerich & Payne Stock Performance

The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $36.88 and its 200 day moving average is $36.75. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -32.82 and a beta of 0.65.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Helmerich & Payne, Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the transaction, the senior vice president owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sara Marie Momper sold 5,054 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the transaction, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. This trade represents a 22.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 110,673 shares of company stock valued at $4,864,590. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Helmerich & Payne in the 2nd quarter worth approximately $513,336,000. California State Teachers Retirement System boosted its stake in Helmerich & Payne by 3,079.7% in the 2nd quarter. California State Teachers Retirement System now owns 3,722,669 shares of the oil and gas company’s stock worth $113,704,000 after buying an additional 3,605,593 shares during the last quarter. Bank of America Corp DE purchased a new stake in Helmerich & Payne in the 2nd quarter valued at about $43,370,000. Balyasny Asset Management L.P. grew its holdings in Helmerich & Payne by 174.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock valued at $30,993,000 after buying an additional 1,298,510 shares during the period. Finally, Encompass Capital Advisors LLC increased its stake in shares of Helmerich & Payne by 165.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after acquiring an additional 1,296,537 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.