Barclays Cuts Helmerich & Payne (NYSE:HP) Price Target to $17.00

Helmerich & Payne (NYSE:HP) had its target price trimmed by Barclays from $20.00 to $17.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on the company. Susquehanna decreased their target price on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group decreased their target price on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Citigroup restated a “neutral” rating and set a $19.00 price objective (down from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Finally, Morgan Stanley decreased their price objective on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $27.45.

Helmerich & Payne Stock Performance

NYSE HP opened at $17.08 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 7.80 and a beta of 0.84. The company has a quick ratio of 1.32, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $18.05 and a 200-day moving average price of $25.08. Helmerich & Payne has a twelve month low of $14.65 and a twelve month high of $42.60.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The business’s revenue was up 47.7% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.85%. Helmerich & Payne’s payout ratio is 45.66%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC raised its holdings in shares of Helmerich & Payne by 32.1% in the first quarter. Intech Investment Management LLC now owns 90,428 shares of the oil and gas company’s stock worth $2,362,000 after buying an additional 21,958 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after purchasing an additional 54,758 shares in the last quarter. Empowered Funds LLC grew its stake in Helmerich & Payne by 9.9% in the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 852 shares in the last quarter. Caxton Associates LLP bought a new position in Helmerich & Payne in the first quarter worth approximately $665,000. Finally, Petrus Trust Company LTA bought a new position in Helmerich & Payne in the first quarter worth approximately $468,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.