Helmerich & Payne (NYSE:HP) Shares Gap Down to $42.43

Helmerich & Payne, Inc. (NYSE:HP) shares gapped down prior to trading on Thursday . The stock had previously closed at $42.43, but opened at $39.91. Helmerich & Payne shares last traded at $40.24, with a volume of 430,596 shares traded.

Wall Street Analysts Forecast Growth

HP has been the topic of several recent analyst reports. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a report on Friday, January 12th. Piper Sandler boosted their target price on Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Susquehanna reduced their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday. Finally, Citigroup upped their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.63.

Helmerich & Payne Stock Performance

The stock has a 50 day moving average price of $40.75 and a two-hundred day moving average price of $38.71. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.94 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $661.81 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 EPS. Analysts predict that Helmerich & Payne, Inc. will post 3.59 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Helmerich & Payne by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock valued at $187,668,000 after buying an additional 19,622 shares in the last quarter. Earnest Partners LLC increased its position in shares of Helmerich & Payne by 4.0% in the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock valued at $123,508,000 after buying an additional 113,735 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Helmerich & Payne by 130.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after purchasing an additional 1,541,987 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Helmerich & Payne by 8.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after purchasing an additional 210,321 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in Helmerich & Payne by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after purchasing an additional 34,863 shares in 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.