Helmerich & Payne (NYSE:HP) Upgraded at Argus

Argus upgraded shares of Helmerich & Payne (NYSE:HP) to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also commented on HP. Royal Bank of Canada lowered their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Finally, Evercore ISI restated an “in-line” rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $38.75.

Helmerich & Payne Stock Up 1.2 %

Shares of HP opened at $27.28 on Tuesday. The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.71 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. The company’s 50-day moving average price is $32.49 and its 200 day moving average price is $33.40. Helmerich & Payne has a 12-month low of $26.35 and a 12-month high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, sell-side analysts forecast that Helmerich & Payne will post 3.11 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Insider Transactions at Helmerich & Payne

In other news, CEO John W. Lindsay bought 20,000 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the acquisition, the chief executive officer now owns 691,214 shares in the company, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently made changes to their positions in HP. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter valued at about $27,000. Covestor Ltd boosted its holdings 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 purchasing an additional 643 shares during the period. Blue Trust Inc. raised its holdings in shares of Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the period. Quarry LP acquired a new position in shares of Helmerich & Payne in the 3rd quarter valued at about $48,000. Finally, Eastern Bank acquired a new position in shares of Helmerich & Payne in the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors 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.