Helmerich & Payne, Inc. (NYSE:HP) PT Set at $50.00 by Cowen and Company

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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