Helmerich & Payne (NYSE:HP) Sets New 1-Year Low – Should You Sell?

Helmerich & Payne, Inc. (NYSE:HP) shares hit a new 52-week low on Thursday . The stock traded as low as $28.62 and last traded at $29.96, with a volume of 662237 shares traded. The stock had previously closed at $33.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays lowered their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Royal Bank of Canada cut their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average target price of $38.75.

Helmerich & Payne Trading Down 3.3 %

The company’s 50 day moving average price is $33.12 and its 200 day moving average price is $33.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 2.81. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Research analysts anticipate that Helmerich & Payne, Inc. will post 3.11 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.73%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 32.89%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in HP. Kestra Investment Management LLC bought a new position in Helmerich & Payne during the fourth quarter worth about $27,000. Covestor Ltd raised its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the period. Blue Trust Inc. lifted its stake in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the last quarter. Quarry LP bought a new stake in shares of Helmerich & Payne during the third quarter worth approximately $48,000. Finally, Eastern Bank acquired a new position in Helmerich & Payne in the 3rd quarter valued at $61,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

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.