Helmerich & Payne (NYSE:HP) Hits New 52-Week High – What’s Next?

Helmerich & Payne, Inc. (NYSE:HP) shares reached a new 52-week high on Tuesday . The company traded as high as $45.45 and last traded at $45.24, with a volume of 383975 shares. The stock had previously closed at $43.58.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HP. Morgan Stanley increased their price target on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, August 20th. Piper Sandler increased their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Royal Bank Of Canada lifted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Barclays raised their target price on Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.00.

Helmerich & Payne Trading Up 5.4%

The business has a 50-day moving average of $36.67 and a 200-day moving average of $36.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of -32.51 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, research analysts forecast that Helmerich & Payne, Inc. will post -0.18 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Helmerich & Payne’s dividend payout ratio (DPR) is -70.92%.

Insider Buying and Selling at Helmerich & Payne

In related news, SVP Cara M. Hair sold 11,149 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president owned 136,095 shares in the company, valued at $6,024,925.65. This represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hans Helmerich sold 94,470 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the sale, the director owned 20,000 shares in the company, valued at approximately $878,000. The trade was a 82.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 110,673 shares of company stock valued at $4,864,590. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HP. Leonteq Securities AG purchased a new stake in Helmerich & Payne during the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC increased its position in shares of Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 445 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Helmerich & Payne during the first quarter worth $101,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

About Helmerich & Payne

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.