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

Helmerich & Payne (NYSE:HP) had its price objective raised by TD Cowen from $27.00 to $33.00 in a report published on Wednesday morning, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Helmerich & Payne in a research note on Thursday, November 20th. Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, November 20th. Citigroup raised their price target on shares of Helmerich & Payne from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, The Goldman Sachs Group raised Helmerich & Payne from a “sell” rating to a “neutral” rating and upped their target price for the stock from $20.00 to $28.00 in a research note on Thursday, November 20th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.70.

Helmerich & Payne Stock Up 0.6%

NYSE:HP opened at $27.90 on Wednesday. Helmerich & Payne has a twelve month low of $14.65 and a twelve month high of $37.30. The company’s 50 day moving average is $24.93 and its two-hundred day moving average is $20.10. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.75 billion, a PE ratio of -84.55 and a beta of 0.94.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. Analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 18th. Helmerich & Payne’s payout ratio is currently -59.88%.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Helmerich & Payne by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock worth $143,209,000 after acquiring an additional 71,168 shares during the period. American Century Companies Inc. increased its holdings in shares of Helmerich & Payne by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock worth $76,741,000 after buying an additional 249,425 shares during the last quarter. Invesco Ltd. increased its stake in Helmerich & Payne by 1.5% during the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock worth $66,338,000 after acquiring an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Helmerich & Payne by 4.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after buying an additional 87,882 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Helmerich & Payne by 22.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock valued at $26,083,000 after acquiring an additional 321,004 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

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.