Helmerich & Payne (NYSE:HP) Given New $44.00 Price Target at Susquehanna

Helmerich & Payne (NYSE:HP) had its price objective upped by Susquehanna from $40.00 to $44.00 in a report released on Friday,Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

Several other equities research analysts also recently commented on HP. Barclays upped their price objective on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th. Citigroup cut their price objective on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $36.00 price objective on shares of Helmerich & Payne in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.20.

Helmerich & Payne Stock Performance

Shares of HP opened at $37.09 on Friday. The firm has a market cap of $3.71 billion, a PE ratio of -26.30 and a beta of 0.61. The stock’s fifty day moving average price is $34.96 and its two-hundred day moving average price is $35.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.32. Helmerich & Payne has a 1 year low of $15.94 and a 1 year high of $41.82.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. On average, equities research analysts forecast that Helmerich & Payne will post -0.11 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. Helmerich & Payne’s dividend payout ratio is currently -70.92%.

Hedge Funds Weigh In On Helmerich & Payne

A number of large investors have recently modified their holdings of HP. Aventail Capital Group LP purchased a new stake in Helmerich & Payne in the 4th quarter worth approximately $5,464,000. UBS Group AG grew its position in shares of Helmerich & Payne by 17.5% during the 4th quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock valued at $34,852,000 after purchasing an additional 180,638 shares in the last quarter. Corigliano Investment Advisers LLC bought a new position in shares of Helmerich & Payne in the fourth quarter worth $8,573,000. Deprince Race & Zollo Inc. bought a new position in shares of Helmerich & Payne in the fourth quarter worth $23,120,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Helmerich & Payne in the fourth quarter worth $1,522,000. 96.05% of the stock is currently owned by institutional investors.

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.