Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $38.57

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus rating of “Hold” from the nine research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $38.57.

Several equities analysts have recently issued reports on HP shares. Citigroup decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Barclays decreased their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada dropped their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $32.02 on Friday. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. Helmerich & Payne has a twelve month low of $29.46 and a twelve month high of $44.11. The company’s 50 day moving average is $33.79 and its 200 day moving average is $34.24. The company has a market cap of $3.16 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. During the same quarter last year, the company posted $0.69 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Helmerich & Payne will post 3.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.12%. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently bought and sold shares of HP. State of New Jersey Common Pension Fund D boosted its position in Helmerich & Payne by 18.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock worth $1,784,000 after acquiring an additional 9,004 shares during the last quarter. Petrus Trust Company LTA acquired a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $619,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Helmerich & Payne in the second quarter valued at approximately $1,274,000. FMR LLC increased its holdings in shares of Helmerich & Payne by 510.7% in the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after purchasing an additional 117,624 shares during the last quarter. Finally, Barclays PLC lifted its position in Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after buying an additional 151,196 shares in the last quarter. 96.05% of the stock is currently owned by hedge funds and other 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.