Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s share price rose 7.4% on Tuesday . The company traded as high as $17.30 and last traded at $17.24. Approximately 736,697 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,937,573 shares. The stock had previously closed at $16.05.
Wall Street Analysts Forecast Growth
HP has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, June 24th. Citigroup reissued a "neutral" rating and issued a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Barclays lowered their price objective on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Friday, June 20th. JPMorgan Chase & Co. lowered their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Morgan Stanley lowered their price objective on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $26.09.
View Our Latest Research Report on Helmerich & Payne
Helmerich & Payne Price Performance
The company's 50 day moving average is $17.03 and its 200 day moving average is $23.60. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 7.86 and a beta of 0.82.
Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $961.03 million. During the same period in the previous year, the business posted $0.84 earnings per share. The company's revenue for the quarter was up 47.7% on a year-over-year basis. Research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.
Helmerich & Payne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.81%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's payout ratio is currently 45.66%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its position in Helmerich & Payne by 4.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock worth $324,000 after purchasing an additional 395 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Helmerich & Payne by 1.9% in the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after acquiring an additional 408 shares in the last quarter. Napatree Capital LLC boosted its holdings in shares of Helmerich & Payne by 2.5% in the fourth quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company's stock valued at $668,000 after acquiring an additional 511 shares in the last quarter. Ellis Investment Partners LLC boosted its holdings in shares of Helmerich & Payne by 4.5% in the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock valued at $340,000 after acquiring an additional 558 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in shares of Helmerich & Payne by 4.4% in the first quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company's stock valued at $350,000 after acquiring an additional 569 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.
About Helmerich & Payne
(
Get Free Report)
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.
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