Helmerich & Payne (NYSE:HP) Shares Up 14.3%

Helmerich & Payne, Inc. (NYSE:HP) shot up 14.3% on Monday . The company traded as high as $47.45 and last traded at $47.40, 3,425,937 shares changed hands during trading. An increase of 147% from the average session volume of 1,386,386 shares. The stock had previously closed at $41.46.

A number of brokerages have weighed in on HP. TheStreet lowered Helmerich & Payne from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. Susquehanna Bancshares lowered their price objective on Helmerich & Payne from $72.00 to $62.00 in a research note on Wednesday, July 10th. Piper Jaffray Companies lowered their price objective on Helmerich & Payne from $57.00 to $52.50 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada set a $65.00 price objective on Helmerich & Payne and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, ValuEngine lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.42.

The company has a market cap of $4.74 billion, a price-to-earnings ratio of 309.50, a price-to-earnings-growth ratio of 1.30 and a beta of 1.57. The firm has a 50-day moving average price of $40.67 and a 200 day moving average price of $50.68. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $687.97 million during the quarter, compared to analyst estimates of $689.41 million. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. Research analysts anticipate that Helmerich & Payne, Inc. will post 1.51 earnings per share for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.71 dividend. This represents a dividend yield of 7.4%. The ex-dividend date is Thursday, November 7th. Helmerich & Payne’s dividend payout ratio (DPR) is 2,028.57%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia raised its stake in Helmerich & Payne by 150.0% during the 1st quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Synovus Financial Corp raised its stake in Helmerich & Payne by 45.0% during the 1st quarter. Synovus Financial Corp now owns 580 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Parallel Advisors LLC raised its stake in Helmerich & Payne by 2,704.0% during the 2nd quarter. Parallel Advisors LLC now owns 701 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 676 shares in the last quarter. Edge Wealth Management LLC raised its stake in Helmerich & Payne by 233.3% during the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 700 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in Helmerich & Payne by 38.6% during the 1st quarter. CSat Investment Advisory L.P. now owns 941 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 262 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile (NYSE:HP)

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.

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