Helmerich & Payne (NYSE:HP) Stock Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Helmerich & Payne shares moved above their 200-day moving average, reaching $38.57 versus the $38.12 average, before last trading near $38.19.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, five Hold and one Sell, resulting in a consensus Hold rating and an average price target of $44.36.
• The company reported a quarterly EPS loss of $0.11, missing estimates by $0.20, while revenue reached $1.03 billion. H&P also declared a quarterly dividend of $0.25 per share, equivalent to a 2.6% yield.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $38.12 and traded as high as $38.57. Helmerich & Payne shares last traded at $38.1910, with a volume of 816,324 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on HP shares. Wall Street Zen raised Helmerich & Payne from a "sell" rating to a "hold" rating in a report on Saturday, October 10th. Susquehanna upped their price objective on Helmerich & Payne from $44.00 to $50.00 and gave the stock a "positive" rating in a research report on Monday, October 5th. Bank of America reaffirmed a "buy" rating on shares of Helmerich & Payne in a research note on Monday, October 12th. Morgan Stanley raised their price objective on shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an "underweight" rating in a research note on Thursday, August 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Helmerich & Payne from $44.00 to $49.00 and gave the company a "sector perform" rating in a report on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne has a consensus rating of "Hold" and an average target price of $44.36.

Helmerich & Payne Stock Down 0.0%

The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The business has a 50-day simple moving average of $41.45 and a 200-day simple moving average of $38.12. The company has a market cap of $3.82 billion, a PE ratio of -27.09, a P/E/G ratio of 0.94 and a beta of 0.69.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%. Helmerich & Payne's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. Equities research analysts anticipate that Helmerich & Payne, Inc. will post -0.17 EPS for the current year.

Helmerich & Payne Dividend Announcement

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

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 94,470 shares of the stock in a transaction dated Thursday, August 20th. The shares were 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 in the company, valued at approximately $878,000. This represents a 82.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cara Hair sold 11,149 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the transaction, the senior vice president directly owned 136,095 shares in the company, valued at $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 110,673 shares of company stock valued at $4,864,590. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $101,000. Nykredit A S purchased a new stake in shares of Helmerich & Payne during the 2nd quarter valued at approximately $112,000. Core Capital Management & Research inc. purchased a new stake in shares of Helmerich & Payne during the 2nd quarter valued at approximately $196,000. Avantax Planning Partners Inc. acquired a new position in Helmerich & Payne in the first quarter valued at approximately $210,000. Finally, CacheTech Inc. acquired a new position in Helmerich & Payne in the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 96.05% of the company's stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land-based and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and provides related equipment, technology and field services used to drill and develop hydrocarbon wells.

H&P is known for its FlexRig fleet, including AC-powered rigs designed for horizontal and unconventional drilling. Its services may include rig operations, drilling support, automation and other technologies intended to improve operational efficiency, well placement and safety.

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