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

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned an average rating of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $40.40.

Several research firms recently commented on HP. Susquehanna raised their price target on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a report on Friday, May 8th. Morgan Stanley increased their price objective 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. Royal Bank Of Canada raised their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Citigroup reduced their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $30.80 on Thursday. The stock’s 50-day moving average is $37.85 and its 200-day moving average is $34.85. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -8.13 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. Helmerich & Payne has a 12 month low of $15.17 and a 12 month high of $41.82.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts anticipate that Helmerich & Payne will post -0.02 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s payout ratio is currently -26.39%.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Helmerich & Payne by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock valued at $206,660,000 after buying an additional 570,500 shares in the last quarter. State Street Corp lifted its position in Helmerich & Payne by 0.8% during the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after acquiring an additional 33,193 shares in the last quarter. American Century Companies Inc. boosted its holdings in Helmerich & Payne by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock worth $76,741,000 after acquiring an additional 249,425 shares during the period. Invesco Ltd. boosted its holdings in Helmerich & Payne by 15.5% in the 4th quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock worth $99,477,000 after acquiring an additional 465,440 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in Helmerich & Payne by 4.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after acquiring an additional 87,882 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

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.