Cowen and Company set a $50.00 price target on Helmerich & Payne, Inc. (NYSE:HP) in a report published on Wednesday, October 18th. The firm currently has a hold rating on the oil and gas company’s stock.
A number of other brokerages also recently issued reports on HP. Royal Bank Of Canada restated a hold rating and issued a $65.00 price target on shares of Helmerich & Payne in a research report on Thursday, July 20th. Zacks Investment Research downgraded Helmerich & Payne from a hold rating to a sell rating in a research report on Tuesday, July 4th. BMO Capital Markets lowered their price target on Helmerich & Payne from $54.00 to $40.00 and set an underperform rating for the company in a research report on Friday, July 14th. Bank of America Corporation downgraded Helmerich & Payne from a buy rating to a neutral rating and lowered their price target for the stock from $71.00 to $55.00 in a research report on Friday, June 30th. Finally, Seaport Global Securities reiterated a sell rating on shares of Helmerich & Payne in a research report on Thursday, July 20th. Nine research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $54.27.
Shares of Helmerich & Payne (NYSE HP) traded up $3.39 on Wednesday, reaching $58.30. The company had a trading volume of 2,558,617 shares, compared to its average volume of 1,302,092. Helmerich & Payne has a 12 month low of $42.16 and a 12 month high of $85.78. The company has a quick ratio of 3.33, a current ratio of 3.74 and a debt-to-equity ratio of 0.12.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.80 annualized dividend and a yield of 4.80%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -167.66%.
In other Helmerich & Payne news, CEO John W. Lindsay purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the purchase, the chief executive officer now owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.23% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Helmerich & Payne by 4.5% during the second quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock worth $622,721,000 after acquiring an additional 492,673 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Helmerich & Payne by 2.0% during the second quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock worth $582,248,000 after acquiring an additional 205,883 shares during the last quarter. State Street Corp grew its stake in shares of Helmerich & Payne by 2.7% during the second quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock worth $350,901,000 after acquiring an additional 172,819 shares during the last quarter. Capital International Investors grew its stake in shares of Helmerich & Payne by 33.5% during the second quarter. Capital International Investors now owns 5,849,715 shares of the oil and gas company’s stock worth $317,874,000 after acquiring an additional 1,466,700 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Helmerich & Payne by 68.8% during the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after acquiring an additional 1,590,793 shares during the last quarter.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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