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

Helmerich & Payne, Inc. (NYSE:HP)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $36.20, but opened at $34.49. Helmerich & Payne shares last traded at $33.89, with a volume of 371,475 shares.

Wall Street Analyst Weigh In

HP has been the subject of several analyst reports. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Barclays reduced their target price on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Finally, 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 report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.29.

Helmerich & Payne Trading Down 8.3 %

The firm has a fifty day simple moving average of $33.34 and a two-hundred day simple moving average of $35.23. The firm has a market capitalization of $3.28 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 3.83 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is 28.99%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently bought and sold shares of HP. Headlands Technologies LLC purchased a new stake in shares of Helmerich & Payne during the first quarter worth $33,000. Covestor Ltd lifted its position in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares in the last quarter. Eastern Bank purchased a new stake in shares of Helmerich & Payne during the third quarter worth $61,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Helmerich & Payne during the first quarter worth $102,000. 96.05% of the stock is owned by institutional investors.

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.