Helmerich & Payne, Inc. (NYSE:HP) Stock Has Consensus Target Price of $44.36 According to Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have received an average rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $44.36.

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Helmerich & Payne from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Morgan Stanley upped their target price on shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, August 20th. Citigroup raised their price objective on shares of Helmerich & Payne from $36.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Wall Street Zen cut Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Royal Bank Of Canada lifted their price objective on shares of Helmerich & Payne from $44.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, September 10th.

Helmerich & Payne Stock Performance

NYSE HP opened at $35.23 on Wednesday. The company has a market cap of $3.52 billion, a PE ratio of -24.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.63. The stock’s 50 day simple moving average is $40.25 and its 200-day simple moving average is $37.35. Helmerich & Payne has a 1-year low of $24.45 and a 1-year high of $48.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. As a group, equities research analysts anticipate that Helmerich & Payne will post -0.17 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -70.92%.

Insider Buying and Selling

In other news, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president directly owned 136,095 shares in the company, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at $878,000. This trade represents a 82.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 110,673 shares of company stock valued at $4,864,590 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in shares of Helmerich & Payne by 61.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,358 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 895 shares in the last quarter. Strs Ohio bought a new stake in Helmerich & Payne during the 1st quarter valued at $101,000. Nykredit A S acquired a new position in Helmerich & Payne in the 2nd quarter worth about $112,000. Core Capital Management & Research inc. purchased a new position in Helmerich & Payne in the second quarter worth approximately $196,000. Finally, Avantax Planning Partners Inc. purchased a new position in Helmerich & Payne in the first quarter valued at approximately $210,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a contract drilling company that provides land-based and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and provides related equipment, technology and field services used to drill and develop hydrocarbon wells.

H&P is known for its FlexRig fleet, including AC-powered rigs designed for horizontal and unconventional drilling. Its services may include rig operations, drilling support, automation and other technologies intended to improve operational efficiency, well placement and safety.