Helmerich & Payne, Inc. (NYSE:HP) Receives Average Rating of “Hold” from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $38.57.

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Barclays decreased their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Citigroup dropped their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada reduced their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. Finally, Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st.

Helmerich & Payne Trading Down 4.5 %

Shares of Helmerich & Payne stock opened at $33.24 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The stock has a market capitalization of $3.28 billion, a PE ratio of 9.66, a P/E/G ratio of 4.29 and a beta of 1.39. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $44.11. The company’s fifty day simple moving average is $34.50 and its 200-day simple moving average is $34.70.

Helmerich & Payne (NYSE:HP) last released its 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. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same period in the previous year, the business earned $0.69 earnings per share. Helmerich & Payne’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Helmerich & Payne will post 3.12 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Monday, November 18th. Helmerich & Payne’s payout ratio is currently 29.07%.

Institutional Trading of Helmerich & Payne

A number of institutional investors and hedge funds have recently bought and sold shares of HP. Covestor Ltd lifted its position in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. grew its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares in the last quarter. Quarry LP bought a new stake in Helmerich & Payne during the third quarter worth approximately $48,000. Headlands Technologies LLC raised its position in Helmerich & Payne by 96.9% during the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 757 shares during the period. Finally, Eastern Bank bought a new stake in shares of Helmerich & Payne in the 3rd quarter valued at approximately $61,000. 96.05% of the stock is currently owned by institutional investors.

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.