Helmerich & Payne (NYSE:HP) Price Target Raised to $36.00

Helmerich & Payne (NYSE:HP) had its target price lifted by Royal Bank Of Canada from $34.00 to $36.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. Barclays raised their price target on Helmerich & Payne from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Evercore upped their price objective on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research note on Wednesday, November 19th. Piper Sandler raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $35.00 in a research report on Thursday, December 18th. Finally, Citigroup boosted their target price on Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $33.91.

Helmerich & Payne Trading Up 4.3%

HP opened at $36.00 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $36.73. The business’s 50 day moving average is $30.82 and its two-hundred day moving average is $25.17. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The business’s revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. On average, research analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -31.35%.

Insider Buying and Selling at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the transaction, the director owned 496,735 shares of the company’s stock, valued at $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Helmerich & Payne by 2,433.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares during the period. Leonteq Securities AG purchased a new stake in Helmerich & Payne during the fourth quarter worth about $26,000. Rothschild Investment LLC grew its position in Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,240 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Helmerich & Payne by 46.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 554 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Helmerich & Payne by 184.3% in the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,187 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.