Helmerich & Payne (NYSE:HP) Price Target Cut to $25.00 by Analysts at Citigroup

Helmerich & Payne (NYSE:HP) had its price objective cut by Citigroup from $32.00 to $25.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other equities analysts also recently commented on the company. Morgan Stanley reiterated an “underweight” rating and issued a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Argus raised shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Royal Bank of Canada dropped their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Susquehanna decreased their price target on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a report on Monday, April 14th. Finally, Barclays cut their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.50.

Helmerich & Payne Trading Down 0.8%

NYSE:HP opened at $19.11 on Tuesday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 6.29, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. Helmerich & Payne has a one year low of $17.60 and a one year high of $42.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The business’s 50-day simple moving average is $21.96 and its 200 day simple moving average is $28.63.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). The business 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 last year, the company posted $0.84 earnings per share. As a group, sell-side analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.23%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is currently 45.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Helmerich & Payne by 18.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock valued at $13,242,000 after purchasing an additional 64,971 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Helmerich & Payne in the 4th quarter worth approximately $2,788,000. Private Capital Management LLC acquired a new position in Helmerich & Payne in the third quarter worth approximately $1,095,000. Fisher Asset Management LLC lifted its position in shares of Helmerich & Payne by 4.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock valued at $45,268,000 after acquiring an additional 62,377 shares during the last quarter. Finally, Legato Capital Management LLC boosted its stake in shares of Helmerich & Payne by 93.9% during the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock worth $2,436,000 after acquiring an additional 36,828 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

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.