Barclays Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price target decreased by Barclays from $39.00 to $36.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other research firms have also recently commented on HP. Royal Bank of Canada decreased their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Stock Performance

Shares of HP opened at $36.06 on Wednesday. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11. The company has a 50-day moving average of $33.86 and a two-hundred day moving average of $35.00. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 4.09 and a beta of 1.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities research analysts expect that Helmerich & Payne will post 3.21 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.77%. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of Helmerich & Payne by 1.3% in the second quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock valued at $1,000,000 after buying an additional 342 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Helmerich & Payne by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after buying an additional 513 shares during the last quarter. KBC Group NV raised its holdings in shares of Helmerich & Payne by 20.3% in the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 529 shares during the last quarter. Covestor Ltd raised its holdings in shares of Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 757 shares during the last quarter. Institutional investors and hedge funds 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.