Helmerich & Payne, Inc. (NYSE:HP) Receives $42.00 Consensus Target Price from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given a consensus recommendation of “Reduce” by the ten brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.00.

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Susquehanna dropped their price objective on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Citigroup increased their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Piper Sandler lowered their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th.

Insider Activity

In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares in the company, valued at $5,865,786.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Smith sold 16,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. 4.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Helmerich & Payne

Large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in Helmerich & Payne by 29.7% in the first quarter. Tidal Investments LLC now owns 34,958 shares of the oil and gas company’s stock valued at $1,470,000 after acquiring an additional 8,002 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Helmerich & Payne by 18.9% in the 1st quarter. Janus Henderson Group PLC now owns 57,870 shares of the oil and gas company’s stock valued at $2,432,000 after purchasing an additional 9,190 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Helmerich & Payne during the 1st quarter worth approximately $837,000. Caxton Associates LP bought a new stake in shares of Helmerich & Payne during the first quarter worth approximately $642,000. Finally, Earnest Partners LLC raised its stake in shares of Helmerich & Payne by 5.5% during the first quarter. Earnest Partners LLC now owns 2,998,189 shares of the oil and gas company’s stock worth $126,104,000 after buying an additional 155,242 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Price Performance

NYSE HP opened at $37.16 on Friday. The company has a market cap of $3.67 billion, a P/E ratio of 10.62, a P/E/G ratio of 4.12 and a beta of 1.51. Helmerich & Payne has a 1 year low of $30.85 and a 1 year high of $46.55. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $40.57 and a 200 day simple moving average of $38.32.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The business had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, sell-side analysts predict that Helmerich & Payne will post 3.47 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.52%. Helmerich & Payne’s payout ratio is presently 28.57%.

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.