Helmerich & Payne (NYSE:HP) Sets New 52-Week High – Here’s Why

Helmerich & Payne, Inc. (NYSE:HP) shares reached a new 52-week high on Wednesday . The stock traded as high as $41.68 and last traded at $41.5660, with a volume of 1242821 shares traded. The stock had previously closed at $40.65.

Analyst Ratings Changes

HP has been the topic of several research reports. TD Cowen increased their price objective on shares of Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Susquehanna increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, February 6th. Finally, Citigroup increased their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $37.80.

Helmerich & Payne Trading Down 7.5%

The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The stock has a market cap of $3.68 billion, a P/E ratio of -9.72 and a beta of 0.62. The firm’s 50-day simple moving average is $35.92 and its 200 day simple moving average is $31.99.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.14% and a negative net margin of 9.38%.The firm had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. During the same quarter last year, the company posted $0.01 EPS. Helmerich & Payne’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that Helmerich & Payne, Inc. will post 0.11 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company 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 $0.25 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 2.7%. Helmerich & Payne’s dividend payout ratio is -31.35%.

Insider Buying and Selling

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president owned 175,589 shares in the company, valued at approximately $6,430,069.18. This represents a 25.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH grew its position in Helmerich & Payne by 234.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock worth $8,470,000 after purchasing an additional 268,882 shares during the last quarter. Fairfax Financial Holdings Ltd. Can boosted its holdings in shares of Helmerich & Payne by 20.5% in the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock valued at $25,948,000 after acquiring an additional 200,000 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Helmerich & Payne by 61.5% in the third quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock valued at $2,606,000 after acquiring an additional 44,906 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Helmerich & Payne by 398.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock valued at $1,040,000 after acquiring an additional 37,626 shares in the last quarter. Finally, Private Advisory Group LLC bought a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $1,407,000. Institutional investors own 96.05% of the company’s stock.

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.