Helmerich & Payne, Inc. (NYSE:HP) Receives $38.57 Average Target Price from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $38.57.

Several equities analysts have recently commented on HP shares. Royal Bank of Canada cut their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. Citigroup cut their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Barclays lowered their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st.

Helmerich & Payne Price Performance

Shares of HP stock opened at $32.02 on Friday. The company has a market capitalization of $3.16 billion, a P/E ratio of 9.31, a P/E/G ratio of 4.10 and a beta of 1.39. The company’s 50-day simple moving average is $33.79 and its two-hundred day simple moving average is $34.24. 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 current ratio of 2.67 and a quick ratio of 2.40.

Helmerich & Payne (NYSE:HP) last announced 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. The company had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. Helmerich & Payne’s revenue 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 anticipate that Helmerich & Payne will post 3.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced 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 of this dividend is Friday, February 14th. This represents a $1.00 annualized dividend and a yield of 3.12%. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in shares of Helmerich & Payne by 76.9% in 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 during the last quarter. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 854 shares during the last quarter. Headlands Technologies LLC lifted its stake 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 worth $56,000 after buying an additional 757 shares during the period. Quarry LP purchased a new stake in shares of Helmerich & Payne during the third quarter valued at $48,000. Finally, Eastern Bank acquired a new position in shares of Helmerich & Payne in the 3rd quarter valued at $61,000. 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.