Susquehanna Bancshares Trims Helmerich & Payne (NYSE:HP) Target Price to $62.00

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Helmerich & Payne (NYSE:HP) had its price target decreased by Susquehanna Bancshares from $72.00 to $62.00 in a report released on Wednesday, The Fly reports.

HP has been the topic of a number of other reports. Piper Jaffray Companies set a $10.00 price target on Mammoth Energy Services and gave the stock a buy rating in a research note on Friday, June 7th. JPMorgan Chase & Co. set a $69.00 target price on Helmerich & Payne and gave the company a buy rating in a research note on Wednesday, June 5th. AltaCorp Capital reissued a sector perform rating on shares of STEP Energy Services in a research note on Thursday, June 20th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research cut W. R. Grace & Co from a buy rating to a hold rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $66.05.

Shares of NYSE HP opened at $52.15 on Wednesday. The stock has a market cap of $5.71 billion, a PE ratio of 44.96 and a beta of 1.50. The company has a current ratio of 2.80, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. Helmerich & Payne has a 1-year low of $44.56 and a 1-year high of $73.74. The firm’s 50-day moving average price is $50.33.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.18. The company had revenue of $720.87 million for the quarter, compared to analysts’ expectations of $712.29 million. Helmerich & Payne had a return on equity of 2.95% and a net margin of 2.65%. Helmerich & Payne’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. As a group, sell-side analysts anticipate that Helmerich & Payne will post 1.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, August 9th. Helmerich & Payne’s dividend payout ratio (DPR) is 2,028.57%.

A number of institutional investors have recently added to or reduced their stakes in HP. Liberty Wealth Management LLC purchased a new stake in Helmerich & Payne during the fourth quarter valued at $26,000. Commonwealth Bank of Australia increased its position in Helmerich & Payne by 150.0% during the first quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Helmerich & Payne during the first quarter valued at $28,000. Arbor Wealth Management LLC purchased a new stake in Helmerich & Payne in the fourth quarter worth about $30,000. Finally, CSat Investment Advisory L.P. increased its position in Helmerich & Payne by 41.5% in the fourth quarter. CSat Investment Advisory L.P. now owns 679 shares of the oil and gas company’s stock worth $33,000 after buying an additional 199 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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The Fly

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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