Helmerich & Payne (NYSE:HP) Trading 6.6% Higher - What's Next?

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s share price was up 6.6% during trading on Tuesday . The stock traded as high as $18.53 and last traded at $18.78. Approximately 276,209 shares traded hands during trading, a decline of 83% from the average daily volume of 1,661,226 shares. The stock had previously closed at $17.61.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HP. Citigroup reaffirmed a "neutral" rating and issued a $19.00 price target (down previously from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Argus upgraded Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Susquehanna decreased their price target 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. The Goldman Sachs Group cut their target price on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.73.

Helmerich & Payne Price Performance

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 company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 3.52 and a beta of 0.83. The stock's 50-day simple moving average is $18.37 and its two-hundred day simple moving average is $26.10.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued 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). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The business's revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. Equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.57%. Helmerich & Payne's dividend payout ratio (DPR) is 45.66%.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth about $27,000. Versant Capital Management Inc boosted its stake in Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after buying an additional 867 shares during the period. Covestor Ltd lifted its holdings in shares of Helmerich & Payne by 61.3% in the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock worth $76,000 after acquiring an additional 907 shares during the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $81,000. Finally, GAMMA Investing LLC increased its holdings 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 purchasing an additional 1,459 shares during the last quarter. Hedge funds and other 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.