Helmerich & Payne (NYSE:HP) Stock Breaks Above 50 Day Moving Average – What’s Next?

Helmerich & Payne, Inc. (NYSE:HP)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $40.90 and traded as high as $42.10. Helmerich & Payne shares last traded at $41.7910, with a volume of 1,195,110 shares changing hands.

Analyst Ratings Changes

HP has been the topic of a number of recent research reports. Barclays lifted their target price on Helmerich & Payne from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Citigroup upped their target price on Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Morgan Stanley upped their target price on Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, August 20th. UBS Group increased their price target on Helmerich & Payne from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Bank of America reissued a “buy” rating on shares of Helmerich & Payne in a research note on Monday, October 12th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and a consensus target price of $44.36.

Helmerich & Payne Stock Up 3.3%

The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $4.29 billion, a PE ratio of -30.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.69. The business’s 50-day moving average price is $40.83 and its 200-day moving average price is $37.24.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post -0.17 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, November 18th. Helmerich & Payne’s payout ratio is currently -70.92%.

Insider Transactions at Helmerich & Payne

In related news, Director Hans Helmerich sold 94,470 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at approximately $878,000. This trade represents a 82.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cara Hair sold 11,149 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 110,673 shares of company stock valued at $4,864,590. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vise Technologies Inc. raised its stake in shares of Helmerich & Payne by 3.5% in the 3rd quarter. Vise Technologies Inc. now owns 21,579 shares of the oil and gas company’s stock valued at $801,000 after acquiring an additional 728 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Helmerich & Payne in the 3rd quarter worth approximately $416,000. Sterling Capital Management LLC lifted its holdings in Helmerich & Payne by 61.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,358 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 895 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Helmerich & Payne by 5.9% during the third quarter. Pinnacle Associates Ltd. now owns 229,258 shares of the oil and gas company’s stock worth $8,515,000 after purchasing an additional 12,761 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Helmerich & Payne by 7.6% during the third quarter. Nisa Investment Advisors LLC now owns 96,317 shares of the oil and gas company’s stock worth $3,577,000 after purchasing an additional 6,768 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land-based and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and provides related equipment, technology and field services used to drill and develop hydrocarbon wells.

H&P is known for its FlexRig fleet, including AC-powered rigs designed for horizontal and unconventional drilling. Its services may include rig operations, drilling support, automation and other technologies intended to improve operational efficiency, well placement and safety.