Helmerich & Payne (NYSE:HP) PT Lowered to $36.00 at Piper Sandler

Helmerich & Payne (NYSE:HP) had its price target decreased by Piper Sandler from $39.00 to $36.00 in a report published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the stock. Citigroup lifted their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Susquehanna decreased their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a positive rating on the stock in a research report on Friday, April 26th. Finally, Benchmark reiterated a hold rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $41.63.

Helmerich & Payne Stock Up 0.7 %

Helmerich & Payne stock opened at $41.17 on Monday. Helmerich & Payne has a 1-year low of $32.17 and a 1-year high of $46.55. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 4.37 and a beta of 1.47. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $36.47 and a 200 day simple moving average of $38.01.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, analysts predict that Helmerich & Payne will post 3.46 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Insider Transactions at Helmerich & Payne

In other news, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Smith sold 16,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the transaction, the chief financial officer now owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. Insiders own 4.38% of the company’s stock.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Helmerich & Payne in the first quarter worth $33,000. Principal Securities Inc. purchased a new stake in shares of Helmerich & Payne in the fourth quarter worth $35,000. Hexagon Capital Partners LLC increased its stake in shares of Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares in the last quarter. Covestor Ltd increased its stake in shares of Helmerich & Payne by 253.4% in the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in shares of Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares in the last quarter. 96.05% of the stock is 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.