Helmerich & Payne, Inc. (NYSE:HP) Receives $40.29 Consensus Target Price from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given an average recommendation of “Hold” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $40.29.

A number of research firms have recently issued reports on HP. Barclays dropped their price target on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler reduced their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, The Goldman Sachs Group dropped their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th.

Helmerich & Payne Trading Up 1.9 %

Shares of HP opened at $36.81 on Friday. Helmerich & Payne has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $33.15 and its 200-day simple moving average is $35.25. The company has a market cap of $3.63 billion, a P/E ratio of 10.67, a P/E/G ratio of 3.83 and a beta of 1.40.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is presently 28.99%.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Helmerich & Payne during the 1st quarter worth approximately $33,000. Covestor Ltd raised its holdings in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the last quarter. Blue Trust Inc. boosted its holdings in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Eastern Bank acquired a new stake in Helmerich & Payne during the 3rd quarter worth about $61,000. Finally, KBC Group NV grew its position in Helmerich & Payne by 20.3% during the 3rd quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.