Helmerich & Payne (NYSE:HP) Reaches New 1-Year High - Here's Why

Key Points

• Shares of Helmerich & Payne hit a new 52-week high of $41.10 on Thursday with about 1.08 million shares traded, and several analysts have raised targets (Evercore $43, Susquehanna $42) though the MarketBeat consensus remains a Hold with a $37.80 target.
• The company missed quarterly EPS expectations—reporting (‑$0.15) vs. $0.12 expected—while revenue rose 50.2% year-over-year to $1.02 billion; balance-sheet metrics include a debt-to-equity of 0.75, market cap ~$4.1B and a negative P/E of -12.86.
• Helmerich & Payne declared a $0.25 quarterly dividend (annualized $1.00, yield 2.4%), and insider SVP Cara M. Hair sold 58,771 shares in March (a 25% reduction), with insiders owning 4.40% and institutional investors holding 96.05% of the stock.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $41.10 and last traded at $41.0180, with a volume of 1080078 shares traded. The stock had previously closed at $39.29.

Analysts Set New Price Targets

HP has been the subject of several research reports. Piper Sandler raised their price target on shares of Helmerich & Payne from $40.00 to $41.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Susquehanna lifted their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a "positive" rating in a research note on Tuesday, April 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $32.00 target price on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Barclays lifted their target price on shares of Helmerich & Payne from $36.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday, February 10th. Finally, Evercore upgraded shares of Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 target price for the company in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $37.80.

Helmerich & Payne Price Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -12.86 and a beta of 0.55. The stock's 50 day simple moving average is $35.57 and its 200-day simple moving average is $31.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. During the same quarter last year, the firm earned $0.71 earnings per share. Helmerich & Payne's revenue was up 50.2% compared to the same quarter last year. On average, analysts expect that Helmerich & Payne, Inc. will post 0.12 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Helmerich & Payne's dividend payout ratio (DPR) is currently -31.35%.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares of the company's stock, valued at $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently modified their holdings of HP. William B. Walkup & Associates Inc. lifted its position in shares of Helmerich & Payne by 1.0% during the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company's stock worth $1,270,000 after purchasing an additional 355 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Helmerich & Payne by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company's stock valued at $2,203,000 after buying an additional 400 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Helmerich & Payne by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company's stock valued at $653,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System grew its holdings in Helmerich & Payne by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company's stock valued at $650,000 after buying an additional 416 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Helmerich & Payne by 21.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company's stock valued at $55,000 after buying an additional 437 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

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.

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