Barclays Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price objective cut by Barclays from $39.00 to $36.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

HP has been the subject of several other reports. Royal Bank of Canada decreased their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup decreased their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. The Goldman Sachs Group decreased their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and a consensus target price of $38.57.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $36.06 on Wednesday. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11. 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 50 day moving average price of $33.86 and a 200 day moving average price of $35.00. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 4.09 and a beta of 1.40.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Helmerich & Payne will post 3.21 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.77%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in Helmerich & Payne by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock valued at $1,000,000 after buying an additional 342 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Helmerich & Payne by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after purchasing an additional 513 shares in the last quarter. KBC Group NV boosted its position in shares of 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 valued at $95,000 after purchasing an additional 529 shares in the last quarter. Covestor Ltd boosted its position in shares of Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 643 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Helmerich & Payne by 96.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 757 shares in the last quarter. 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.