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

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.88.

Several research analysts recently issued reports on HP shares. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Piper Sandler decreased their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Bank of America reduced their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Royal Bank of Canada lifted their target price on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Helmerich & Payne in the 1st quarter valued at $33,000. Principal Securities Inc. acquired a new position in Helmerich & Payne in the fourth quarter valued at about $35,000. Hexagon Capital Partners LLC increased its holdings in shares of Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 787 shares in the last quarter. Covestor Ltd raised its position in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the period. Finally, Whittier Trust Co. lifted its holdings in shares of Helmerich & Payne by 94.9% during the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 595 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Up 3.2 %

HP opened at $33.45 on Monday. Helmerich & Payne has a twelve month low of $32.17 and a twelve month high of $46.55. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 4.19 and a beta of 1.47. The firm’s 50-day simple moving average is $36.06 and its 200-day simple moving average is $38.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. During the same period in the prior year, the company earned $1.09 EPS. Helmerich & Payne’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Helmerich & Payne will post 3.51 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

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.