Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Recommendation of “Hold” by Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has received an average recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $38.57.

A number of brokerages recently issued reports on HP. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Citigroup decreased their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Barclays dropped their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada decreased their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in shares of Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Blue Trust Inc. lifted its holdings in Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the period. Headlands Technologies LLC grew its position in shares of Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 757 shares during the last quarter. Quarry LP acquired a new stake in shares of Helmerich & Payne in the third quarter valued at about $48,000. Finally, Eastern Bank bought a new position in shares of Helmerich & Payne during the third quarter worth about $61,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $30.76 on Friday. The business has a fifty day moving average price of $33.86 and a two-hundred day moving average price of $34.27. The stock has a market capitalization of $3.04 billion, a PE ratio of 8.94, a P/E/G ratio of 4.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. Helmerich & Payne’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, equities analysts predict that Helmerich & Payne will post 3.12 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is 29.07%.

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.