Citigroup Cuts Helmerich & Payne (NYSE:HP) Price Target to $33.00

Helmerich & Payne (NYSE:HP) had its price target trimmed by Citigroup from $41.00 to $33.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $38.00 to $34.00 and set a sell rating for the company in a research note on Thursday, August 29th. Bank of America dropped their price target on Helmerich & Payne from $42.50 to $40.00 and set a buy rating for the company in a research note on Monday, July 15th. Evercore ISI upgraded Helmerich & Payne to a strong-buy rating in a research note on Friday, July 26th. Benchmark reiterated a hold rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Royal Bank of Canada increased 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $40.88.

Helmerich & Payne Stock Performance

Shares of NYSE:HP opened at $29.85 on Friday. The firm has a market capitalization of $2.95 billion, a PE ratio of 8.53, a P/E/G ratio of 3.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The business has a 50-day moving average of $35.09 and a two-hundred day moving average of $37.41. Helmerich & Payne has a 12 month low of $29.46 and a 12 month high of $46.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.77 by $0.15. The company had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. As a group, research analysts forecast that Helmerich & Payne will post 3.57 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 3.35%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently bought and sold shares of HP. International Assets Investment Management LLC bought a new stake in Helmerich & Payne in the fourth quarter valued at about $318,000. M&T Bank Corp increased its holdings in Helmerich & Payne by 5.7% in the fourth quarter. M&T Bank Corp now owns 8,510 shares of the oil and gas company’s stock valued at $308,000 after buying an additional 457 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Helmerich & Payne by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 910,432 shares of the oil and gas company’s stock valued at $32,976,000 after buying an additional 21,490 shares during the last quarter. Principal Securities Inc. bought a new stake in Helmerich & Payne in the fourth quarter valued at about $35,000. Finally, Teacher Retirement System of Texas increased its holdings in Helmerich & Payne by 26.4% in the fourth quarter. Teacher Retirement System of Texas now owns 10,212 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 2,132 shares during the last quarter. 96.05% of the stock is 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.