Helmerich & Payne, Inc. (NYSE:HP) Receives $31.78 Average PT from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $31.20.

Several equities analysts have commented on HP shares. TD Cowen lowered their price objective on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Friday. Argus upgraded Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Evercore ISI reissued an “in-line” rating and set a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Finally, Royal Bank of Canada cut their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the purchase, the director now directly owns 54,606 shares of the company’s stock, valued at $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the transaction, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in Helmerich & Payne by 320.2% in the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock valued at $6,035,000 after acquiring an additional 151,196 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Helmerich & Payne during the third quarter worth $452,000. Tidal Investments LLC grew its position in Helmerich & Payne by 66.4% during the third quarter. Tidal Investments LLC now owns 70,402 shares of the oil and gas company’s stock valued at $2,142,000 after buying an additional 28,101 shares during the period. Franklin Resources Inc. increased its holdings in Helmerich & Payne by 0.4% in the third quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock valued at $4,793,000 after buying an additional 666 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Helmerich & Payne by 28.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 593,330 shares of the oil and gas company’s stock worth $18,049,000 after acquiring an additional 129,613 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 0.3 %

HP opened at $18.28 on Friday. The company has a market capitalization of $1.82 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. The firm has a 50-day simple moving average of $22.20 and a two-hundred day simple moving average of $28.87. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a 52 week low of $17.60 and a 52 week high of $42.60.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.63). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. Analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.47%. Helmerich & Payne’s payout ratio is 32.89%.

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.