Helmerich & Payne (NYSE:HP) Stock Price Down 2.2% - Should You Sell?

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s stock price traded down 2.2% on Tuesday . The company traded as low as $19.64 and last traded at $19.34. 28,250 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,729,085 shares. The stock had previously closed at $19.78.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HP. Morgan Stanley reissued an "underweight" rating and issued a $27.00 price target on shares of Helmerich & Payne in a report on Thursday, March 27th. Susquehanna lowered their price objective on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada cut their price objective 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 target price on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Finally, Citigroup cut their price target on Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.78.

Helmerich & Payne Trading Down 1.2 %

The company has a market cap of $1.98 billion, a P/E ratio of 6.57, a PEG ratio of 3.52 and a beta of 1.00. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average price of $23.59 and a 200-day moving average price of $29.92.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate 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, analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne's dividend payout ratio is 32.89%.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay bought 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Belgacem Chariag bought 37,356 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the transaction, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. This trade represents a 216.56 % 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 company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HP. Allspring Global Investments Holdings LLC boosted its stake in Helmerich & Payne by 26.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 468,757 shares of the oil and gas company's stock valued at $12,422,000 after purchasing an additional 97,388 shares during the last quarter. Money Concepts Capital Corp increased its position in shares of Helmerich & Payne by 16.1% during the 1st quarter. Money Concepts Capital Corp now owns 50,457 shares of the oil and gas company's stock valued at $1,318,000 after purchasing an additional 7,010 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Helmerich & Payne by 19.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 36,495 shares of the oil and gas company's stock worth $953,000 after acquiring an additional 5,933 shares during the period. Grace & White Inc. NY raised its holdings in shares of Helmerich & Payne by 40.8% in the 1st quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company's stock worth $2,960,000 after purchasing an additional 32,856 shares during the period. Finally, Ellis Investment Partners LLC lifted its position in shares of Helmerich & Payne by 4.5% during the 1st quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock valued at $340,000 after buying an additional 558 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

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.