Helmerich & Payne (NYSE:HP) PT Lowered to $50.00 at Susquehanna

Helmerich & Payne (NYSE:HP) had its target price trimmed by Susquehanna from $52.00 to $50.00 in a research report report published on Friday, Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a sector perform rating in a research report on Wednesday, January 31st. Piper Sandler increased their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the company a neutral rating in a research report on Tuesday, February 20th. Benchmark reiterated a hold rating on shares of Helmerich & Payne in a research report on Thursday. Citigroup increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Finally, Barclays lowered shares of Helmerich & Payne from an overweight rating to an equal weight rating and lowered their target price for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $42.63.

Helmerich & Payne Stock Performance

HP opened at $40.39 on Friday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.93 and a beta of 1.51. The company has a fifty day moving average of $40.75 and a 200 day moving average of $38.66. Helmerich & Payne has a fifty-two week low of $30.41 and a fifty-two week high of $46.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 2.16.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. During the same period last year, the company posted $1.11 earnings per share. Helmerich & Payne’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HP. Victory Capital Management Inc. increased its stake in Helmerich & Payne by 13,372.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock worth $101,958,000 after buying an additional 2,400,414 shares during the period. Pacer Advisors Inc. increased its stake in Helmerich & Payne by 130.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after buying an additional 1,541,987 shares during the period. The Manufacturers Life Insurance Company increased its stake in Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock worth $30,487,000 after buying an additional 760,554 shares during the period. ARGA Investment Management LP increased its stake in Helmerich & Payne by 497.3% in the 4th quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock worth $32,131,000 after buying an additional 738,594 shares during the period. Finally, LSV Asset Management increased its stake in Helmerich & Payne by 11,750.0% in the 4th quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock worth $20,602,000 after buying an additional 564,000 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

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.