Helmerich & Payne (NYSE:HP) Sets New 1-Year Low After Earnings Miss

Helmerich & Payne, Inc. (NYSE:HP)’s share price hit a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $17.60 and last traded at $18.09, with a volume of 173508 shares changing hands. The stock had previously closed at $19.00.

The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $961.03 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne’s payout ratio is 32.89%.

Analyst Upgrades and Downgrades

HP has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Susquehanna dropped their price objective on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. TD Cowen decreased their target price on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Friday. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Finally, StockNews.com cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus target price of $31.20.

Insiders Place Their Bets

In related news, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by company insiders.

Institutional Trading of Helmerich & Payne

Several large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Helmerich & Payne by 18.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock worth $13,242,000 after purchasing an additional 64,971 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Helmerich & Payne in the fourth quarter worth about $2,788,000. Private Capital Management LLC bought a new position in Helmerich & Payne in the 3rd quarter valued at about $1,095,000. Fisher Asset Management LLC increased its stake in Helmerich & Payne by 4.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock valued at $45,268,000 after buying an additional 62,377 shares during the period. Finally, Legato Capital Management LLC raised its position in shares of Helmerich & Payne by 93.9% during the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock worth $2,436,000 after buying an additional 36,828 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Trading Down 0.3 %

The business’s 50 day moving average price is $22.20 and its two-hundred day moving average price is $28.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93.

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.