Helmerich & Payne, Inc. (NYSE:HP) Receives $36.11 Average Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $34.22.

A number of research firms recently weighed in on HP. Barclays lowered their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $27.00 target price on shares of Helmerich & Payne in a report on Thursday, March 27th. The Goldman Sachs Group cut their price target on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a report on Thursday. Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, Royal Bank of Canada cut their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th.

Insider Buying and Selling at Helmerich & Payne

In related news, Director Belgacem Chariag purchased 37,356 shares of the company’s stock in a transaction on Monday, February 10th. The stock was bought at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction dated 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 transaction, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Lmcg Investments LLC grew its stake in Helmerich & Payne by 0.8% in the 1st quarter. Lmcg Investments LLC now owns 120,164 shares of the oil and gas company’s stock worth $3,139,000 after acquiring an additional 931 shares during the period. Profit Investment Management LLC boosted its holdings in shares of Helmerich & Payne by 6.9% during the first quarter. Profit Investment Management LLC now owns 81,762 shares of the oil and gas company’s stock worth $2,136,000 after purchasing an additional 5,301 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Helmerich & Payne by 4,743.2% in the first quarter. GAMMA Investing LLC now owns 82,722 shares of the oil and gas company’s stock valued at $21,610,000 after purchasing an additional 81,014 shares during the period. Versant Capital Management Inc increased its stake in Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 867 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Helmerich & Payne during the fourth quarter worth about $248,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP opened at $18.38 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. Helmerich & Payne has a fifty-two week low of $17.82 and a fifty-two week high of $43.41. The firm has a 50-day simple moving average of $25.39 and a 200-day simple moving average of $30.88. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 6.04, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, equities research analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.44%. Helmerich & Payne’s payout ratio is 32.89%.

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.