Helmerich & Payne, Inc. (HP) – What Are Brokerages Thinking About This Stock?

Helmerich & Payne, Inc. (NYSE:HP) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $44.36.

HP has been the subject of several recent analyst reports. Wall Street Zen cut Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup raised their target price on Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Bank of America reiterated a “buy” rating on shares of Helmerich & Payne in a research note on Monday, October 12th. Royal Bank Of Canada boosted their price target on Helmerich & Payne from $44.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, September 10th. Finally, Susquehanna upped their price objective on Helmerich & Payne from $44.00 to $50.00 and gave the stock a “positive” rating in a research report on Monday, October 5th.

Insider Activity

In related news, Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at $878,000. This represents a 82.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sara Momper sold 5,054 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 110,673 shares of company stock worth $4,864,590. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

A number of hedge funds have recently added to or reduced their stakes in HP. Sterling Capital Management LLC lifted its position in shares of Helmerich & Payne by 61.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,358 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 895 shares during the period. Strs Ohio acquired a new stake in Helmerich & Payne in the first quarter worth $101,000. Nykredit A S acquired a new stake in Helmerich & Payne in the second quarter worth $112,000. Core Capital Management & Research inc. bought a new stake in Helmerich & Payne in the second quarter valued at $196,000. Finally, Avantax Planning Partners Inc. bought a new stake in Helmerich & Payne in the first quarter valued at $210,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $35.23 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -24.99, a P/E/G ratio of 0.90 and a beta of 0.63. The firm’s 50 day simple moving average is $40.25 and its 200 day simple moving average is $37.35. Helmerich & Payne has a 1 year low of $24.45 and a 1 year high of $48.17.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne’s dividend payout ratio is -70.92%.

About Helmerich & Payne

Helmerich & Payne, Inc is a drilling contractor that provides services and technology to oil and natural gas companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company has a long history in the drilling industry.

Its operations include contract drilling with land rigs, offshore platform rigs and related drilling solutions. The company is known for its FlexRig fleet and also offers technologies and services designed to support drilling performance and efficiency.

Helmerich & Payne serves customers in the United States and international markets.