Helmerich & Payne (NYSE:HP) Price Target Lowered to $32.00 at Citigroup

Helmerich & Payne (NYSE:HP) had its price objective decreased by Citigroup from $33.00 to $32.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts have also commented on HP. Morgan Stanley reaffirmed an “underweight” rating and issued a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays dropped their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada decreased their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, Argus upgraded shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.22.

Helmerich & Payne Trading Down 6.1 %

Shares of HP stock opened at $18.84 on Tuesday. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a twelve month low of $18.59 and a twelve month high of $43.68. The company’s 50-day moving average price is $26.05 and its 200-day moving average price is $31.13. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 6.20, a PEG ratio of 3.52 and a beta of 1.00.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, equities analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.31%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 32.89%.

Insiders Place Their Bets

In other news, CEO John W. Lindsay purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Belgacem Chariag acquired 37,356 shares of the company’s stock in a transaction on Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Helmerich & Payne by 18.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock worth $13,242,000 after acquiring an additional 64,971 shares in the last quarter. Private Capital Management LLC purchased a new stake in Helmerich & Payne during the third quarter worth approximately $1,095,000. Fisher Asset Management LLC increased its stake in Helmerich & Payne by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock valued at $45,268,000 after purchasing an additional 62,377 shares during the last quarter. Legato Capital Management LLC raised its holdings in Helmerich & Payne by 93.9% during the fourth quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock worth $2,436,000 after purchasing an additional 36,828 shares in the last quarter. Finally, Magnetar Financial LLC lifted its position in shares of Helmerich & Payne by 389.3% during the 4th quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company’s stock worth $1,241,000 after buying an additional 30,833 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.