Evercore ISI Reiterates In-Line Rating for Helmerich & Payne (NYSE:HP)

Evercore ISI reaffirmed their in-line rating on shares of Helmerich & Payne (NYSE:HP) in a report issued on Wednesday morning, Marketbeat reports. Evercore ISI currently has a $39.00 target price on the oil and gas company’s stock, down from their previous target price of $48.00.

Several other equities research analysts have also recently commented on HP. Royal Bank of Canada decreased their target price on 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. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, Barclays cut 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and an average target price of $39.50.

Helmerich & Payne Trading Down 0.9 %

HP opened at $36.38 on Wednesday. Helmerich & Payne has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a fifty day moving average of $33.70 and a 200-day moving average of $34.21. The stock has a market cap of $3.59 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 4.22 and a beta of 1.39. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last issued 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. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Helmerich & Payne will post 3.11 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is currently 29.07%.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently bought and sold shares of HP. State of New Jersey Common Pension Fund D grew its holdings in shares of Helmerich & Payne by 18.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after buying an additional 9,004 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in shares of Helmerich & Payne in the 3rd quarter worth about $619,000. William B. Walkup & Associates Inc. bought a new position in Helmerich & Payne in the 2nd quarter valued at about $1,274,000. FMR LLC lifted its position in Helmerich & Payne by 510.7% in the 3rd quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after acquiring an additional 117,624 shares in the last quarter. Finally, Barclays PLC boosted its stake in Helmerich & Payne by 320.2% during the 3rd quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock valued at $6,035,000 after purchasing an additional 151,196 shares during the last quarter. Institutional investors 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.