Helmerich & Payne (NYSE:HP) Shares Down 4.1% – Time to Sell?

Helmerich & Payne, Inc. (NYSE:HP) shares traded down 4.1% during mid-day trading on Monday . The stock traded as low as $24.73 and last traded at $24.81. 596,958 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,401,258 shares. The stock had previously closed at $25.86.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Argus raised Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Barclays lowered their target price on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada lowered their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.25.

Helmerich & Payne Trading Down 2.4 %

The company has a market cap of $2.51 billion, a P/E ratio of 8.32, a PEG ratio of 3.52 and a beta of 1.42. The business has a fifty day moving average price of $29.87 and a 200-day moving average price of $32.05. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Insider Transactions at Helmerich & Payne

In related news, CEO John W. Lindsay purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now owns 691,214 shares in the company, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Belgacem Chariag purchased 37,356 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the purchase, the director now owns 54,606 shares of the company’s stock, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. acquired a new position in shares of Helmerich & Payne during the fourth quarter worth $28,708,000. ARGA Investment Management LP increased its holdings in shares of Helmerich & Payne by 42.5% during the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after buying an additional 801,000 shares in the last quarter. Norges Bank acquired a new position in shares of Helmerich & Payne during the fourth quarter worth $21,572,000. Bank of America Corp DE increased its holdings in shares of Helmerich & Payne by 542.9% during the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company’s stock worth $16,748,000 after buying an additional 441,688 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Helmerich & Payne during the fourth quarter worth $10,931,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.