Royal Bank of Canada Cuts Helmerich & Payne (NYSE:HP) Price Target to $41.00

Helmerich & Payne (NYSE:HP) had its target price cut by Royal Bank of Canada from $44.00 to $41.00 in a report issued on Friday morning,Benzinga reports. They currently have a sector perform rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the stock. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. The Goldman Sachs Group cut their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Barclays decreased their price target on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Finally, Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.00.

Helmerich & Payne Trading Down 0.3 %

Shares of HP stock opened at $33.85 on Friday. The company has a market capitalization of $3.34 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 3.59 and a beta of 1.40. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.11. The business’s fifty day moving average is $33.48 and its 200 day moving average is $35.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.87 and a current ratio of 2.67.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that Helmerich & Payne will post 3.57 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s payout ratio is 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently bought and sold shares of the business. UniSuper Management Pty Ltd purchased a new stake in Helmerich & Payne in the first quarter worth about $1,065,000. Russell Investments Group Ltd. boosted its stake in Helmerich & Payne by 10.3% in the 1st quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after purchasing an additional 14,347 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock valued at $6,809,000 after buying an additional 21,852 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Helmerich & Payne during the first quarter valued at $642,000. Finally, Freestone Capital Holdings LLC purchased a new stake in Helmerich & Payne in the first quarter worth approximately $1,009,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.