Helmerich & Payne (NYSE:HP) Trading Up 5.5% – Should You Buy?

Helmerich & Payne, Inc. (NYSE:HP) shares shot up 5.5% during trading on Friday . The stock traded as high as $35.83 and last traded at $35.7040. 915,941 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,749,473 shares. The stock had previously closed at $33.85.

Analysts Set New Price Targets

HP has been the topic of a number of research analyst reports. Citigroup upped their target price on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a research report on Wednesday, January 14th. TD Cowen upped their price target on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. Piper Sandler increased their price objective on Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. raised 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 research report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $36.20.

Helmerich & Payne Stock Up 5.5%

The company’s fifty day moving average price is $33.51 and its 200-day moving average price is $27.95. The stock has a market capitalization of $3.57 billion, a PE ratio of -11.19 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) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.16 million. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up 50.2% on a year-over-year basis. Analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s payout ratio is -31.35%.

Insider Activity at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the transaction, the director directly owned 496,735 shares in the company, valued at $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH grew its holdings in shares of Helmerich & Payne by 234.7% during the third quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock valued at $8,470,000 after buying an additional 268,882 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Helmerich & Payne by 61.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock worth $2,606,000 after acquiring an additional 44,906 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Helmerich & Payne by 398.3% in the 3rd 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. Jefferies Financial Group Inc. purchased a new stake in Helmerich & Payne during the 2nd quarter valued at $174,000. Finally, Caxton Associates LLP increased its holdings in shares of Helmerich & Payne by 666.7% in the 2nd quarter. Caxton Associates LLP now owns 195,313 shares of the oil and gas company’s stock worth $2,961,000 after purchasing an additional 169,839 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.