Helmerich & Payne (NYSE:HP) Reaches New 12-Month Low at $30.03

Shares of Helmerich & Payne, Inc. (NYSE:HP) reached a new 52-week low on Monday . The stock traded as low as $30.03 and last traded at $30.23, with a volume of 33238 shares traded. The stock had previously closed at $30.34.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HP shares. Royal Bank of Canada upped their target price on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Piper Sandler dropped 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 report on Monday, July 15th. The Goldman Sachs Group cut their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Finally, Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Helmerich & Payne Price Performance

The stock has a market cap of $2.98 billion, a PE ratio of 8.67, a P/E/G ratio of 3.25 and a beta of 1.42. 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 business has a 50 day moving average price of $35.61 and a two-hundred day moving average price of $37.69.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million for the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Research analysts expect that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock valued at $30,487,000 after acquiring an additional 760,554 shares during the period. ARGA Investment Management LP lifted its stake in shares of Helmerich & Payne by 497.3% during the 4th quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock valued at $32,131,000 after buying an additional 738,594 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Helmerich & Payne by 38.1% during 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 buying an additional 513,647 shares in the last quarter. Earnest Partners LLC boosted its holdings in Helmerich & Payne by 15.7% in the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after buying an additional 471,420 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $15,367,000. Institutional investors 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.