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. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. H&P’s fleet includes 299 land rigs in the U.S., 31 international land rigs and eight offshore platform rigs.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Helmerich & Payne from $45.00 to $48.00 and gave the company an "underweight" rating in a research report on Monday, August 1st. Susquehanna Bancshares raised their target price on shares of Helmerich & Payne from $55.00 to $62.00 and gave the company a "positive" rating in a research report on Wednesday, June 8th. Citigroup raised their price target on shares of Helmerich & Payne from $44.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, July 6th. Barclays raised their price target on shares of Helmerich & Payne to $58.00 in a research note on Tuesday. Finally, Piper Sandler raised their price target on shares of Helmerich & Payne from $49.00 to $53.00 and gave the company a "neutral" rating in a research note on Wednesday, June 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Helmerich & Payne has an average rating of "Hold" and an average price target of $51.22.
Helmerich & Payne Trading Up 4.5 %
NYSE:HP traded up $1.88 during mid-day trading on Thursday, reaching $43.51. 487,051 shares of the stock were exchanged, compared to its average volume of 1,394,344. Helmerich & Payne has a one year low of $20.93 and a one year high of $54.59. The stock has a 50 day simple moving average of $43.16 and a 200-day simple moving average of $42.12. The stock has a market cap of $4.58 billion, a P/E ratio of -39.20 and a beta of 1.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.36 and a quick ratio of 2.14.
Helmerich & Payne Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Wednesday, August 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, August 16th. Helmerich & Payne's dividend payout ratio is presently -90.09%.
Insider Buying and Selling
In related news, SVP Raymond John Adams III sold 1,500 shares of Helmerich & Payne stock in a transaction on Friday, June 24th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the senior vice president now owns 54,399 shares of the company's stock, valued at $2,175,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.35% of the stock is owned by insiders.