Helmerich & Payne, Inc. (NYSE:HP) Receives $39.10 Consensus Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $39.70.

Several equities analysts recently issued reports on the company. TD Cowen lifted their price objective on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Piper Sandler lifted their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a report on Friday, March 27th. Barclays lifted their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th.

Insider Buying and Selling at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. The trade was a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its holdings in shares of Helmerich & Payne by 234.7% in the third quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock worth $8,470,000 after acquiring an additional 268,882 shares during the last quarter. Fairfax Financial Holdings Ltd. Can raised its holdings in shares of Helmerich & Payne by 20.5% in the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock worth $25,948,000 after acquiring an additional 200,000 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Helmerich & Payne by 61.5% in the third quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock worth $2,606,000 after acquiring an additional 44,906 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Helmerich & Payne by 398.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock worth $1,040,000 after acquiring an additional 37,626 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Helmerich & Payne in the fourth quarter worth $23,120,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $40.94 on Wednesday. The stock has a fifty day moving average price of $36.71 and a 200 day moving average price of $32.80. The stock has a market cap of $4.09 billion, a PE ratio of -10.80 and a beta of 0.62. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $41.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The firm had revenue of $932.36 million for the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. Sell-side analysts forecast that Helmerich & Payne will post 0.07 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s payout ratio is -26.39%.

Helmerich & Payne Company Profile

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.