Helmerich & Payne (NYSE:HP) Trading 4.8% Higher - Here's Why

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) shot up 4.8% during trading on Tuesday . The company traded as high as $20.17 and last traded at $20.15. 527,987 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,504,759 shares. The stock had previously closed at $19.23.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reduced their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Morgan Stanley reissued an "underweight" rating and issued a $27.00 target price on shares of Helmerich & Payne in a research note on Thursday, March 27th. Finally, Argus raised Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $31.78.

Helmerich & Payne Price Performance

The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 3.52 and a beta of 1.00. The company's fifty day moving average is $24.27 and its 200 day moving average is $30.42. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne's dividend payout ratio is currently 32.89%.

Insider Activity

In other news, Director Belgacem Chariag bought 37,356 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John W. Lindsay purchased 20,000 shares of the stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares of the company's stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new position in shares of Helmerich & Payne in the first quarter valued at about $575,000. GAMMA Investing LLC grew its stake in Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after buying an additional 1,459 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Helmerich & Payne by 3.8% in the 1st quarter. Yousif Capital Management LLC now owns 38,786 shares of the oil and gas company's stock valued at $1,013,000 after acquiring an additional 1,413 shares during the period. Harbor Capital Advisors Inc. lifted its position in Helmerich & Payne by 10,355.9% during the first quarter. Harbor Capital Advisors Inc. now owns 29,381 shares of the oil and gas company's stock worth $767,000 after acquiring an additional 29,100 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Helmerich & Payne by 101.6% during the first quarter. Farther Finance Advisors LLC now owns 12,892 shares of the oil and gas company's stock worth $342,000 after acquiring an additional 6,496 shares during the last quarter. Institutional investors and hedge funds 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.