Helmerich & Payne (NYSE:HP) Earns “Hold” Rating from Benchmark

Benchmark restated their hold rating on shares of Helmerich & Payne (NYSE:HP) in a research note issued to investors on Thursday,Benzinga reports.

Several other research analysts also recently weighed in on HP. The Goldman Sachs Group cut their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Barclays lowered their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Citigroup lowered their price objective 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. Royal Bank of Canada lowered their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Finally, Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $36.06 on Thursday. 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. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The business’s 50 day simple moving average is $33.86 and its 200-day simple moving average is $34.98. Helmerich & Payne has a 12 month low of $29.46 and a 12 month high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The company 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 for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. As a group, equities analysts forecast that Helmerich & Payne will post 3.21 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.77%. Helmerich & Payne’s payout ratio is currently 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently modified their holdings of the stock. Covestor Ltd increased its stake in Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the last quarter. Blue Trust Inc. lifted 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 worth $46,000 after acquiring an additional 854 shares during the last quarter. Quarry LP acquired a new position in Helmerich & Payne in the third quarter valued at approximately $48,000. Headlands Technologies LLC grew its holdings in shares of Helmerich & Payne by 96.9% during the second 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 during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Helmerich & Payne during the 3rd quarter worth approximately $61,000. 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.