Helmerich & Payne, Inc. (NYSE:HP) Receives $40.40 Average PT from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Two 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 issued ratings on the stock in the last year is $40.40.

Several analysts recently commented on the company. Piper Sandler boosted their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup reduced their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. The Goldman Sachs Group boosted their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Finally, Barclays increased their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th.

Hedge Funds Weigh In On Helmerich & Payne

Large investors have recently bought and sold shares of the business. Aventail Capital Group LP purchased a new position in Helmerich & Payne in the fourth quarter valued at about $5,464,000. Fairfax Financial Holdings Ltd. Can raised its position in shares of Helmerich & Payne by 20.5% during the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock worth $25,948,000 after purchasing an additional 200,000 shares during the last quarter. UBS Group AG grew its holdings in Helmerich & Payne by 17.5% during the 4th quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock valued at $34,852,000 after buying an additional 180,638 shares during the last quarter. Tcfg Wealth Management LLC increased its position in Helmerich & Payne by 85.9% during the third quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock worth $2,075,000 after buying an additional 43,412 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Helmerich & Payne in the fourth quarter worth $23,120,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 1.8%

Shares of Helmerich & Payne stock opened at $31.09 on Thursday. The firm has a 50-day simple moving average of $37.52 and a two-hundred day simple moving average of $34.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. Helmerich & Payne has a fifty-two week low of $15.17 and a fifty-two week high of $41.82. The company has a market cap of $3.11 billion, a P/E ratio of -8.19 and a beta of 0.60.

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

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

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.