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

Helmerich & Payne, Inc. (NYSE:HP) has been given an average rating of “Hold” by the ten research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.29.

A number of research analysts have recently weighed in on HP shares. Barclays dropped their target price on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler dropped their price objective on 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 raised shares of Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Bank of America lowered their target price on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, The Goldman Sachs Group cut their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th.

Helmerich & Payne Stock Performance

HP opened at $34.81 on Tuesday. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $44.11. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 3.80 and a beta of 1.42. The company’s fifty day moving average price is $32.81 and its two-hundred day moving average price is $36.15. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last posted its 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 the consensus estimate of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, analysts expect that Helmerich & Payne will post 3.48 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.87%. Helmerich & Payne’s payout ratio is currently 28.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UniSuper Management Pty Ltd bought a new position in shares of Helmerich & Payne during the 1st quarter worth $1,065,000. Russell Investments Group Ltd. lifted its holdings in Helmerich & Payne by 10.3% during the first quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock valued at $6,436,000 after purchasing an additional 14,347 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock worth $6,809,000 after purchasing an additional 21,852 shares during the period. Profit Investment Management LLC increased its stake in shares of Helmerich & Payne by 51.4% in the first quarter. Profit Investment Management LLC now owns 79,792 shares of the oil and gas company’s stock worth $3,356,000 after purchasing an additional 27,101 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in shares of Helmerich & Payne in the first quarter valued at approximately $642,000. 96.05% of the stock is owned by institutional investors.

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.