Helmerich & Payne (NYSE:HP) Shares Down 5.7% – Here’s Why

Shares of Helmerich & Payne, Inc. (NYSE:HP) dropped 5.7% on Friday . The company traded as low as $32.76 and last traded at $32.81. Approximately 113,789 shares were traded during trading, a decline of 92% from the average daily volume of 1,376,993 shares. The stock had previously closed at $34.79.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada reduced their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. Citigroup lowered their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, Barclays dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Trading Down 4.5 %

The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The business has a 50 day simple moving average of $34.50 and a two-hundred day simple moving average of $34.72. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 4.29 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. As a group, equities analysts anticipate that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Monday, November 18th. Helmerich & Payne’s payout ratio is currently 29.07%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Covestor Ltd lifted its position in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares during the last quarter. Blue Trust Inc. raised its stake in Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares during the period. Quarry LP bought a new position in Helmerich & Payne in the third quarter worth about $48,000. Headlands Technologies LLC boosted its stake in Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 757 shares during the period. Finally, Eastern Bank bought a new position in shares of Helmerich & Payne during the third quarter valued at approximately $61,000. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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.