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

28 Oct 2024, 14:48 by Doug Wharley · The Cerbat Gem

Helmerich & Payne, Inc. (NYSE:HP – Get Free Report) fell 2.7% during trading on Monday . The stock traded as low as $33.41 and last traded at $33.55. 66,348 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,374,801 shares. The stock had previously closed at $34.49.

Analyst Upgrades and Downgrades

HP has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Bank of America dropped their price target on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Citigroup dropped their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, Royal Bank of Canada boosted their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.29.

Check Out Our Latest Report on HP

Helmerich & Payne Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The stock has a market cap of $3.33 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 3.67 and a beta of 1.42. The company has a 50 day moving average of $32.80 and a two-hundred day moving average of $35.78.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.97%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HP. Dimensional Fund Advisors LP increased its stake in Helmerich & Payne by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock valued at $201,543,000 after purchasing an additional 176,179 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Helmerich & Payne by 9.4% during the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after purchasing an additional 327,802 shares in the last quarter. Earnest Partners LLC lifted its stake in Helmerich & Payne by 15.7% in the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after buying an additional 471,420 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Helmerich & Payne by 1.3% during the second quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock worth $80,320,000 after acquiring an additional 27,660 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Helmerich & Payne by 38.1% in the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after acquiring an additional 513,647 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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