Helmerich & Payne (NYSE:HP) Price Target Raised to $36.00 at Royal Bank Of Canada

Helmerich & Payne (NYSE:HP) had its price objective lifted by Royal Bank Of Canada from $34.00 to $36.00 in a report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the oil and gas company’s stock.

A number of other analysts also recently commented on the company. Piper Sandler upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $35.00 in a report on Thursday, December 18th. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $34.00 in a research note on Wednesday, December 10th. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. Finally, TD Cowen restated a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.91.

Helmerich & Payne Stock Up 4.3%

HP opened at $36.00 on Friday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $36.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.40. The business has a 50-day moving average of $30.82 and a two-hundred day moving average of $25.05.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.16 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Helmerich & Payne’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, research analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -59.88%.

Insider Buying and Selling at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

A number of hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG acquired a new position in shares of Helmerich & Payne during the fourth quarter valued at about $26,000. Rothschild Investment LLC increased its stake in Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,240 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,582 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Helmerich & Payne by 46.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Helmerich & Payne by 184.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,187 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.