Helmerich & Payne (NYSE:HP) Sets New 52-Week Low – Here’s What Happened

Helmerich & Payne, Inc. (NYSE:HP) reached a new 52-week low during trading on Thursday . The company traded as low as $28.62 and last traded at $29.96, with a volume of 662237 shares trading hands. The stock had previously closed at $33.19.

Wall Street Analyst Weigh In

HP has been the subject of several recent research reports. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. Barclays lowered their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.50.

Helmerich & Payne Trading Down 14.4 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The firm has a fifty day simple moving average of $33.41 and a 200-day simple moving average of $33.85. The firm has a market cap of $2.86 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 3.88 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. On average, equities research analysts expect that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.52%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently bought and sold shares of the stock. ARGA Investment Management LP boosted its holdings in Helmerich & Payne by 42.5% during the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after acquiring an additional 801,000 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Helmerich & Payne by 27.7% during the fourth quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock valued at $48,739,000 after purchasing an additional 329,734 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Helmerich & Payne by 1,241.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock valued at $10,604,000 after purchasing an additional 322,578 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Helmerich & Payne by 18.0% during the third quarter. The Manufacturers Life Insurance Company now owns 1,161,286 shares of the oil and gas company’s stock worth $35,326,000 after purchasing an additional 177,023 shares during the last quarter. Finally, Barclays PLC grew its position in Helmerich & Payne by 320.2% in the 3rd quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after purchasing an additional 151,196 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

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.