Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Rating of “Hold” from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has earned an average rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $40.60.

Several equities research analysts have issued reports on HP shares. Royal Bank Of Canada lifted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Barclays lifted their target price on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Morgan Stanley lifted their target price on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, May 14th. Evercore upgraded shares of Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, March 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd.

Helmerich & Payne Stock Down 0.7%

HP stock opened at $39.11 on Friday. The firm has a market capitalization of $3.91 billion, a PE ratio of -10.32 and a beta of 0.59. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The stock has a 50-day simple moving average of $37.85 and a two-hundred day simple moving average of $34.28. Helmerich & Payne has a twelve month low of $15.08 and a twelve month high of $41.82.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. On average, equities analysts predict that Helmerich & Payne will post -0.02 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 2.6%. Helmerich & Payne’s payout ratio is presently -26.39%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the sale, the senior vice president directly owned 175,589 shares in the company, valued at $6,430,069.18. The trade was a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Helmerich & Payne

A number of hedge funds have recently bought and sold shares of the company. William B. Walkup & Associates Inc. lifted its position in Helmerich & Payne by 1.0% in the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock worth $1,270,000 after buying an additional 355 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Helmerich & Payne by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock valued at $653,000 after acquiring an additional 400 shares in the last quarter. Arizona State Retirement System raised its holdings in Helmerich & Payne by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 416 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Helmerich & Payne by 21.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 437 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 445 shares during the period. Institutional investors 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.