Helmerich & Payne (NYSE:HP) Price Target Raised to $42.00 at Citigroup

Helmerich & Payne (NYSE:HP) had its price target lifted by Citigroup from $40.00 to $42.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on HP. Benchmark downgraded shares of Helmerich & Payne from a buy rating to a hold rating in a research report on Tuesday, January 16th. Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Piper Sandler increased their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Susquehanna increased their price objective on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a positive rating in a research note on Monday, April 8th. Finally, Barclays cut shares of Helmerich & Payne from an overweight rating to an equal weight rating and reduced their price objective for the stock from $44.00 to $40.00 in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $42.88.

Helmerich & Payne Price Performance

Shares of HP opened at $41.20 on Tuesday. The stock has a market cap of $4.07 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 8.76 and a beta of 1.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.89 and a current ratio of 2.11. Helmerich & Payne has a fifty-two week low of $30.41 and a fifty-two week high of $46.55. The firm’s 50-day simple moving average is $40.23 and its two-hundred day simple moving average is $38.60.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. The business had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. Analysts anticipate that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.42 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. Helmerich & Payne’s dividend payout ratio is currently 23.87%.

Institutional Trading of Helmerich & Payne

Institutional investors and hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY increased its holdings in shares of Helmerich & Payne by 3.7% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,313 shares of the oil and gas company’s stock worth $313,000 after buying an additional 226 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of Helmerich & Payne by 2.5% in the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after buying an additional 308 shares during the last quarter. Palisade Capital Management LP increased its holdings in shares of Helmerich & Payne by 0.4% in the 4th quarter. Palisade Capital Management LP now owns 71,895 shares of the oil and gas company’s stock worth $2,604,000 after buying an additional 317 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Helmerich & Payne by 1.9% in the 2nd quarter. Captrust Financial Advisors now owns 17,651 shares of the oil and gas company’s stock worth $626,000 after buying an additional 334 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of Helmerich & Payne by 5.8% in the 4th quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $230,000 after buying an additional 346 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

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.