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

Helmerich & Payne, Inc. (NYSE:HP) has been given an average rating of “Reduce” by the ten research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $42.00.

Several research analysts have weighed in on HP shares. Susquehanna cut their price objective on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Piper Sandler cut their price objective on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Citigroup boosted their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th.

Helmerich & Payne Trading Down 4.2 %

Shares of Helmerich & Payne stock opened at $32.72 on Wednesday. The stock has a fifty day simple moving average of $38.67 and a 200 day simple moving average of $38.10. Helmerich & Payne has a 12-month low of $32.17 and a 12-month high of $46.55. The company has a market capitalization of $3.23 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 3.61 and a beta of 1.47. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. During the same period in the prior year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that Helmerich & Payne will post 3.46 earnings per share for the current fiscal year.

Helmerich & Payne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.06%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Insider Activity at Helmerich & Payne

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

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in Helmerich & Payne in the 1st quarter worth about $33,000. Hexagon Capital Partners LLC increased its stake in Helmerich & Payne by 514.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 787 shares during the last quarter. Covestor Ltd increased its stake in Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares during the last quarter. Principal Securities Inc. bought a new position in Helmerich & Payne in the 4th quarter worth about $35,000. Finally, Whittier Trust Co. increased its stake in Helmerich & Payne by 94.9% in the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 595 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

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.