Helmerich & Payne (NYSE:HP) Reaches New 1-Year Low at $32.12

Helmerich & Payne, Inc. (NYSE:HP) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $32.12 and last traded at $32.26, with a volume of 300145 shares traded. The stock had previously closed at $33.42.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HP. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday. Piper Sandler lowered their target price on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Bank of America dropped their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.00.

Helmerich & Payne Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The business’s 50-day moving average price is $36.05 and its two-hundred day moving average price is $37.98. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 4.19 and a beta of 1.47.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. The company had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, research analysts forecast that Helmerich & Payne, Inc. will post 3.51 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.01%. Helmerich & Payne’s payout ratio is 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC lifted its position in shares of Helmerich & Payne by 2.5% in the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after buying an additional 308 shares during the last quarter. Arizona State Retirement System lifted its holdings in Helmerich & Payne by 1.3% in the second quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after acquiring an additional 342 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Helmerich & Payne by 26.4% in the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 355 shares during the period. Marathon Capital Management boosted its stake in Helmerich & Payne by 0.4% in the fourth quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after acquiring an additional 409 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of Helmerich & Payne by 3.0% during the fourth quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.