Analysts Set Helmerich & Payne, Inc. (NYSE:HP) PT at $41.88

Helmerich & Payne, Inc. (NYSE:HP) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $42.00.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday. Royal Bank of Canada lifted their price target on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Bank of America lowered their price target on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th.

Helmerich & Payne Trading Down 1.7 %

NYSE:HP opened at $32.63 on Monday. Helmerich & Payne has a 12-month low of $31.98 and a 12-month high of $46.55. The firm has a market cap of $3.22 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.47. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $36.02 and a 200 day moving average price of $37.97.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter last year, the business posted $1.09 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Helmerich & Payne will post 3.56 earnings per share for the current fiscal year.

Helmerich & Payne Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, August 16th. Helmerich & Payne’s payout ratio is currently 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Helmerich & Payne in the 1st quarter valued at $33,000. Hexagon Capital Partners LLC raised its holdings in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares in the last quarter. Covestor Ltd lifted its position in Helmerich & Payne by 253.4% in 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 period. Principal Securities Inc. purchased a new stake in Helmerich & Payne in the 4th quarter valued at approximately $35,000. Finally, Whittier Trust Co. increased its position in Helmerich & Payne by 94.9% during the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the period. 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.