Brokerages Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $40.88

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given a consensus recommendation of “Hold” by the eleven research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $40.88.

A number of research firms have recently weighed in on HP. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Citigroup cut their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Piper Sandler dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. The Goldman Sachs Group reduced 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 note on Thursday, August 29th. Finally, Royal Bank of Canada raised their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Alberta Investment Management Corp bought a new stake in Helmerich & Payne during the 4th quarter worth approximately $1,206,000. Gendell Jeffrey L increased its holdings in Helmerich & Payne by 44.9% in the fourth quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock valued at $14,697,000 after purchasing an additional 125,671 shares during the period. UniSuper Management Pty Ltd bought a new position in Helmerich & Payne during the 1st quarter worth $1,065,000. Russell Investments Group Ltd. raised its position in Helmerich & Payne by 10.3% during the 1st quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after purchasing an additional 14,347 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in Helmerich & Payne by 13.1% during the 2nd 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 buying an additional 21,852 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $32.62 on Friday. 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 firm has a market cap of $3.22 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 3.29 and a beta of 1.42. The stock’s fifty day moving average price is $34.62 and its two-hundred day moving average price is $37.18. Helmerich & Payne has a one year low of $29.46 and a one year high of $45.04.

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, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same period in the prior year, the company posted $1.09 earnings per share. Helmerich & Payne’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Helmerich & Payne will post 3.57 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.07%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

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.