Helmerich & Payne, Inc. (NYSE:HP) shares saw unusually-strong trading volume on Friday . Approximately 5,820,557 shares were traded during mid-day trading, an increase of 216% from the previous session’s volume of 1,840,448 shares.The stock last traded at $57.78 and had previously closed at $56.78.

Several equities analysts have issued reports on HP shares. Deutsche Bank started coverage on Helmerich & Payne in a research note on Tuesday, October 10th. They issued a “hold” rating and a $45.00 price target on the stock. Royal Bank of Canada set a $57.00 price target on Helmerich & Payne and gave the company a “sector perform” rating in a research note on Friday, November 17th. Cowen set a $50.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Wednesday, October 18th. Jefferies Group set a $58.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Saturday, November 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $66.00 target price on shares of Helmerich & Payne in a research report on Wednesday, September 6th. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $54.92.

The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $532.30 million during the quarter, compared to analyst estimates of $493.78 million. Helmerich & Payne had a negative return on equity of 2.96% and a negative net margin of 7.16%. Helmerich & Payne’s quarterly revenue was up 60.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS. analysts anticipate that Helmerich & Payne, Inc. will post -0.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Friday, February 9th. Helmerich & Payne’s payout ratio is currently -233.33%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its stake in Helmerich & Payne by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 52,638 shares of the oil and gas company’s stock valued at $2,860,000 after purchasing an additional 162 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Helmerich & Payne by 5.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,511 shares of the oil and gas company’s stock valued at $36,708,000 after purchasing an additional 35,865 shares during the period. Rhumbline Advisers grew its stake in Helmerich & Payne by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 222,154 shares of the oil and gas company’s stock valued at $12,072,000 after purchasing an additional 5,280 shares during the period. Advisors Asset Management Inc. grew its stake in Helmerich & Payne by 79.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 82,186 shares of the oil and gas company’s stock valued at $4,466,000 after purchasing an additional 36,494 shares during the period. Finally, LMR Partners LLP grew its stake in Helmerich & Payne by 84.1% in the 2nd quarter. LMR Partners LLP now owns 18,574 shares of the oil and gas company’s stock valued at $1,010,000 after purchasing an additional 8,486 shares during the period.

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Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

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