Helmerich & Payne (NYSE:HP) Shares Up 3.7% – Still a Buy?

Shares of Helmerich & Payne, Inc. (NYSE:HP) traded up 3.7% on Monday . The stock traded as high as $26.07 and last traded at $26.20. 760,580 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 1,636,779 shares. The stock had previously closed at $25.26.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HP. 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 note on Friday, January 10th. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Barclays reduced their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada cut their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, Evercore ISI reissued an “in-line” rating and issued a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.11.

Helmerich & Payne Stock Performance

The stock has a market cap of $2.60 billion, a P/E ratio of 8.61, a PEG ratio of 3.52 and a beta of 1.42. The stock has a fifty day simple moving average of $28.02 and a 200-day simple moving average of $31.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating 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, equities analysts expect 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. Investors of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 3.82%. Helmerich & Payne’s dividend payout ratio is 32.89%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired 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 directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John W. Lindsay purchased 20,000 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The stock was bought at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This trade represents a 2.98 % 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

Large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Helmerich & Payne by 18.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock valued at $13,242,000 after buying an additional 64,971 shares during the last quarter. Private Capital Management LLC purchased a new stake in shares of Helmerich & Payne during the 3rd quarter worth approximately $1,095,000. Fisher Asset Management LLC increased its holdings in Helmerich & Payne by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock worth $45,268,000 after acquiring an additional 62,377 shares during the last quarter. Legato Capital Management LLC raised its stake in Helmerich & Payne by 93.9% in the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock valued at $2,436,000 after acquiring an additional 36,828 shares during the period. Finally, Magnetar Financial LLC lifted its holdings in Helmerich & Payne by 389.3% during the fourth quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company’s stock valued at $1,241,000 after purchasing an additional 30,833 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

About Helmerich & Payne

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.