Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Price Target at $42.88

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned a consensus rating of “Reduce” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $42.63.

HP has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Piper Sandler lifted their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Citigroup boosted their price target on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group lowered their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Friday, January 12th.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently modified their holdings of HP. Victory Capital Management Inc. increased its position in shares of Helmerich & Payne by 13,372.8% during the third quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock valued at $101,958,000 after buying an additional 2,400,414 shares during the period. Pacer Advisors Inc. increased its position in shares of Helmerich & Payne by 130.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock valued at $98,535,000 after buying an additional 1,541,987 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Helmerich & Payne by 937.0% during the fourth 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 buying an additional 760,554 shares during the period. ARGA Investment Management LP increased its position in shares of Helmerich & Payne by 497.3% during the fourth 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 during the period. Finally, LSV Asset Management increased its position in shares of Helmerich & Payne by 11,750.0% during the fourth quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock valued at $20,602,000 after buying an additional 564,000 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 0.1 %

Shares of NYSE:HP opened at $40.39 on Tuesday. Helmerich & Payne has a one year low of $30.41 and a one year high of $46.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.89. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.94 and a beta of 1.51. The firm has a fifty day moving average price of $40.75 and a two-hundred day moving average price of $38.69.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. During the same period in the previous year, the firm posted $1.11 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that Helmerich & Payne will post 3.59 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s payout ratio is 28.57%.

About Helmerich & Payne

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.