Helmerich & Payne, Inc. (NYSE:HP) Receives $39.50 Average PT from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.50.

HP has been the topic of several recent research reports. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. Evercore ISI restated an “in-line” rating and issued a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Finally, Barclays decreased their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $34.73 on Thursday. The company’s 50-day moving average is $33.73 and its 200 day moving average is $34.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The company has a market capitalization of $3.43 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 4.45 and a beta of 1.39. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.11.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, equities research analysts forecast that Helmerich & Payne will post 3.06 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th 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 2.88%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 29.07%.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently made changes to their positions in HP. Covestor Ltd lifted its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 643 shares during the period. Blue Trust Inc. lifted its stake 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 worth $46,000 after acquiring an additional 854 shares during the period. Quarry LP purchased a new stake in Helmerich & Payne in the third quarter worth $48,000. Eastern Bank purchased a new stake in Helmerich & Payne in the third quarter worth $61,000. Finally, Steph & Co. bought a new position in Helmerich & Payne in the fourth quarter worth $87,000. Hedge funds and other 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.