Helmerich & Payne (NYSE:HP) Trading Down 2.7% – Should You Sell?

Helmerich & Payne, Inc. (NYSE:HP)’s share price traded down 2.7% on Monday . The company traded as low as $33.41 and last traded at $33.55. Approximately 66,348 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,374,801 shares. The stock had previously closed at $34.49.

Analysts Set New Price Targets

A number of research analysts have recently commented on HP shares. Piper Sandler cut their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Citigroup decreased their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.29.

Helmerich & Payne Stock Down 1.2 %

The company has a market cap of $3.29 billion, a P/E ratio of 9.52, a PEG ratio of 3.67 and a beta of 1.42. 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 $32.80 and its 200-day moving average price is $35.66.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System boosted its position in Helmerich & Payne by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock valued at $1,000,000 after buying an additional 342 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Helmerich & Payne by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock worth $795,000 after buying an additional 513 shares during the last quarter. Whittier Trust Co. lifted its holdings in Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the period. Texas Permanent School Fund Corp boosted its stake in Helmerich & Payne by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 86,492 shares of the oil and gas company’s stock valued at $3,638,000 after acquiring an additional 601 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares during the period. 96.05% of the stock is owned by institutional investors.

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.