Helmerich & Payne, Inc. (NYSE:HP) Given Average Recommendation of “Hold” by Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $40.60.

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group increased their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday. Susquehanna increased their price target on shares of Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Morgan Stanley increased their price target on shares of Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Friday, March 27th.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the sale, the senior vice president owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Helmerich & Payne

A number of hedge funds have recently added to or reduced their stakes in HP. Royal Bank of Canada boosted its position in Helmerich & Payne by 4.4% in the first quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock valued at $2,721,000 after buying an additional 4,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Helmerich & Payne by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock valued at $1,531,000 after buying an additional 3,611 shares in the last quarter. NewEdge Advisors LLC boosted its position in Helmerich & Payne by 39,685.1% in the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after buying an additional 34,526 shares in the last quarter. Empowered Funds LLC boosted its position 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 valued at $247,000 after buying an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 valued at $5,575,000 after buying an additional 54,758 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $37.44 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -9.88 and a beta of 0.59. The firm’s 50 day simple moving average is $37.63 and its 200 day simple moving average is $33.89. Helmerich & Payne has a 1 year low of $15.08 and a 1 year high of $41.82.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results 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 was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, research analysts expect that Helmerich & Payne will post 0.02 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -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.