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.
Helmerich & Payne Price Performance
Shares of HP Stock traded down $0.06 during trading hours on Wednesday, reaching $40.73. The stock had a trading volume of 971,136 shares, compared to its average volume of 1,377,180. The stock's fifty day simple moving average is $42.29 and its 200 day simple moving average is $42.49. The firm has a market capitalization of $4.29 billion, a PE ratio of -36.69 and a beta of 1.70. The company has a current ratio of 2.36, a quick ratio of 2.14 and a debt-to-equity ratio of 0.20. Helmerich & Payne has a 12 month low of $20.93 and a 12 month high of $54.59.
Helmerich & Payne Announces Dividend
The business 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, August 16th. Helmerich & Payne's dividend payout ratio is currently -90.09%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on HP shares. The Goldman Sachs Group cut their target price on shares of Helmerich & Payne from $45.00 to $38.00 and set a "sell" rating for the company in a research report on Wednesday, July 13th. Susquehanna increased their target price on shares of Helmerich & Payne from $55.00 to $62.00 in a research report on Wednesday, June 8th. Susquehanna Bancshares increased their target price on shares of Helmerich & Payne from $55.00 to $62.00 and gave the stock a "positive" rating in a research report on Wednesday, June 8th. Piper Sandler increased their target price on shares of Helmerich & Payne from $49.00 to $53.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 1st. Finally, Morgan Stanley increased their target price on shares of Helmerich & Payne from $45.00 to $48.00 and gave the stock an "underweight" rating in a research report on Monday, August 1st. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $51.22.
Insider Activity at Helmerich & Payne
In related news, SVP Raymond John Adams III sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly 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 at the SEC website. 4.35% of the stock is currently owned by insiders.