Helmerich & Payne (NYSE:HP) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Helmerich & Payne, Inc. (NYSE:HP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.00 and traded as high as $33.24. Helmerich & Payne shares last traded at $32.4440, with a volume of 2,572,435 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HP shares. Citigroup increased their target price on shares of Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Susquehanna increased their price objective on Helmerich & Payne from $31.00 to $36.00 and gave the company a “positive” rating in a report on Wednesday, January 7th. Barclays raised their target price on Helmerich & Payne from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average price target of $33.00.

Helmerich & Payne Stock Performance

The company’s fifty day simple moving average is $29.50 and its 200 day simple moving average is $24.00. The stock has a market capitalization of $3.30 billion, a P/E ratio of -19.43 and a beta of 0.56. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $972.79 million. During the same period in the previous year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.1%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -59.88%.

Insider Activity

In other news, Director Hans Helmerich sold 75,000 shares of Helmerich & Payne stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the sale, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares in the last quarter. Rothschild Investment LLC lifted its holdings in shares of Helmerich & Payne by 1,377.8% during the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Helmerich & Payne by 46.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares during the last quarter. Hantz Financial Services Inc. grew its position in Helmerich & Payne by 184.3% in the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,187 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% in the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,787 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.