Analysts Set Helmerich & Payne, Inc. (NYSE:HP) PT at $27.45

Helmerich & Payne, Inc. (NYSE:HP) has earned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $26.55.

A number of equities research analysts recently commented on the stock. Barclays lowered their price objective on shares of Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, June 20th. Citigroup reaffirmed a “neutral” rating and issued a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday. TD Cowen dropped their price objective on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group cut their price objective on Helmerich & Payne from $25.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday. Finally, Morgan Stanley reduced their target price on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, May 16th.

Helmerich & Payne Stock Performance

NYSE HP opened at $15.54 on Friday. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $42.60. The company has a market capitalization of $1.54 billion, a P/E ratio of 7.10 and a beta of 0.83. The business has a 50 day moving average price of $17.73 and a 200 day moving average price of $24.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. During the same period last year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. Sell-side analysts expect that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.44%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 45.66%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HP. Empowered Funds LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth $276,000. Rhumbline Advisers increased its stake in shares of Helmerich & Payne by 0.5% during the 4th quarter. Rhumbline Advisers now owns 307,272 shares of the oil and gas company’s stock valued at $9,839,000 after acquiring an additional 1,611 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Helmerich & Payne by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 478,823 shares of the oil and gas company’s stock valued at $15,332,000 after acquiring an additional 13,410 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne during the 4th quarter worth about $27,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Helmerich & Payne by 16.8% during the 4th quarter. New York State Common Retirement Fund now owns 863,149 shares of the oil and gas company’s stock worth $27,638,000 after acquiring an additional 124,103 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.