Helmerich & Payne (NYSE:HP) Share Price Breaks Above 200-Day Moving Average - Should You Sell?

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $37.44 and traded as high as $38.14. Helmerich & Payne shares last traded at $38.0950, with a volume of 1,343,474 shares.

Analyst Ratings Changes

Several analysts recently issued reports on HP shares. Royal Bank Of Canada raised their target price on Helmerich & Payne from $44.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 10th. Morgan Stanley raised their target price on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday, August 20th. Susquehanna upped their price target on shares of Helmerich & Payne from $44.00 to $50.00 and gave the stock a "positive" rating in a research note on Monday, October 5th. UBS Group lifted their target price on Helmerich & Payne from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, October 12th. Finally, Bank of America reissued a "buy" rating on shares of Helmerich & Payne in a research report on Monday, October 12th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $44.36.

Helmerich & Payne Trading Up 2.6%

The stock has a fifty day moving average of $39.40 and a 200 day moving average of $37.44. The company has a market capitalization of $3.81 billion, a P/E ratio of -27.02, a PEG ratio of 0.95 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. Helmerich & Payne's dividend payout ratio is -70.92%.

Insider Buying and Selling at Helmerich & Payne

In related news, SVP Cara M. Hair sold 11,149 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $44.27, for a total value of $493,566.23. Following the completion of the transaction, the senior vice president owned 136,095 shares of the company's stock, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hans Helmerich sold 94,470 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the sale, the director owned 20,000 shares of the company's stock, valued at $878,000. The trade was a 82.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in HP. Empowered Funds LLC grew its stake in Helmerich & Payne by 5.3% during the third quarter. Empowered Funds LLC now owns 472,901 shares of the oil and gas company's stock valued at $17,564,000 after acquiring an additional 23,954 shares in the last quarter. Caxton Associates LLP boosted its holdings in shares of Helmerich & Payne by 21.2% during the 3rd quarter. Caxton Associates LLP now owns 59,323 shares of the oil and gas company's stock valued at $2,203,000 after purchasing an additional 10,368 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Helmerich & Payne by 284.1% during the 3rd quarter. First Trust Advisors LP now owns 205,240 shares of the oil and gas company's stock valued at $7,623,000 after purchasing an additional 151,801 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Helmerich & Payne during the third quarter valued at about $2,654,000. Finally, Private Advisor Group LLC purchased a new position in shares of Helmerich & Payne during the third quarter valued at about $293,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc. is a drilling contractor that provides services and technology to oil and natural gas companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company has a long history in the drilling industry. Its operations include contract drilling with land rigs, offshore platform rigs and related drilling solutions. The company is known for its FlexRig fleet and also offers technologies and services designed to support drilling performance and efficiency. Helmerich & Payne serves customers in the United States and international markets.

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