Helmerich & Payne (NYSE:HP) Reaches New 12-Month Low - What's Next?

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $15.99 and last traded at $16.06, with a volume of 3182877 shares changing hands. The stock had previously closed at $16.82.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HP. Wall Street Zen cut Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley dropped their price target on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Susquehanna decreased their price objective on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Barclays cut their target price on shares of Helmerich & Payne from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $28.80.

Helmerich & Payne Stock Down 0.8%

The firm has a market cap of $1.54 billion, a P/E ratio of 5.10, a P/E/G ratio of 3.52 and a beta of 0.93. The stock's 50 day simple moving average is $20.58 and its two-hundred day simple moving average is $27.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne's dividend payout ratio is currently 45.66%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Helmerich & Payne by 18.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company's stock worth $13,242,000 after acquiring an additional 64,971 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Helmerich & Payne in the 4th quarter valued at $2,788,000. Private Capital Management LLC bought a new position in Helmerich & Payne in the third quarter worth about $1,095,000. Fisher Asset Management LLC lifted its position in Helmerich & Payne by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company's stock valued at $45,268,000 after acquiring an additional 62,377 shares during the last quarter. Finally, Legato Capital Management LLC lifted its holdings in shares of Helmerich & Payne by 93.9% during 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 purchasing an additional 36,828 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

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.