Helmerich & Payne, Inc. (NYSE:HP) Receives $31.90 Average PT from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.90.

HP has been the subject of several recent analyst reports. Piper Sandler upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $35.00 in a research note on Thursday, December 18th. Cowen restated a “hold” rating on shares of Helmerich & Payne in a research report on Wednesday. TD Cowen lifted their target price on Helmerich & Payne from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday. Morgan Stanley set a $26.00 target price on shares of Helmerich & Payne in a report on Monday, December 15th. Finally, Barclays lifted their price target on shares of Helmerich & Payne from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th.

Helmerich & Payne Trading Down 2.4%

Shares of Helmerich & Payne stock opened at $30.65 on Thursday. The firm’s 50-day moving average price is $28.33 and its two-hundred day moving average price is $22.72. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -18.35 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 has a 12-month low of $14.65 and a 12-month high of $37.30.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $972.79 million. Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.The business’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. On average, analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s payout ratio is presently -59.88%.

Insider Activity

In other news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the transaction, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC boosted its stake in shares of Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,240 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 1,582 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Helmerich & Payne by 46.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after buying an additional 554 shares during the period. Hantz Financial Services Inc. grew its holdings in Helmerich & Payne by 184.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,787 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.