Helmerich & Payne (NYSE:HP) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Helmerich & Payne, Inc. (NYSE:HP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.00 and traded as high as $33.24. Helmerich & Payne shares last traded at $32.4440, with a volume of 2,572,435 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $35.00 in a research report on Thursday, December 18th. Barclays increased their target price on shares of Helmerich & Payne from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $24.00 to $34.00 in a research note on Wednesday, December 10th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $34.00 price objective on shares of Helmerich & Payne in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and an average price target of $33.00.

Helmerich & Payne Stock Performance

The company has a 50-day moving average of $29.50 and a 200-day moving average of $24.00. The company has a market cap of $3.30 billion, a PE ratio of -19.43 and a beta of 0.56. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. As a group, analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -59.88%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of HP. Balyasny Asset Management L.P. increased its position in shares of Helmerich & Payne by 174.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock valued at $30,993,000 after acquiring an additional 1,298,510 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Helmerich & Payne by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock valued at $26,907,000 after purchasing an additional 925,921 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in shares of Helmerich & Payne during the 4th quarter valued at $23,120,000. Norges Bank bought a new stake in shares of Helmerich & Payne during the 2nd quarter worth $10,571,000. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Helmerich & Payne in the 2nd quarter worth about $7,841,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.