Helmerich & Payne (NYSE:HP) Price Target Cut to $40.00 by Analysts at Susquehanna

Helmerich & Payne (NYSE:HP) had its price target lowered by Susquehanna from $43.00 to $40.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley increased their price target on Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a research note on Thursday, May 14th. Barclays upped their price objective on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Piper Sandler increased their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Citigroup lowered their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.10.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $32.96 on Wednesday. The business’s fifty day simple moving average is $37.28 and its 200-day simple moving average is $34.97. The company has a market cap of $3.29 billion, a PE ratio of -8.70 and a beta of 0.60. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. Helmerich & Payne has a 12-month low of $15.17 and a 12-month high of $41.82.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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 business earned $0.01 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts expect that Helmerich & Payne will post -0.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -26.39%.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. William B. Walkup & Associates Inc. raised its stake in shares of Helmerich & Payne by 1.0% during the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock valued at $1,270,000 after buying an additional 355 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Helmerich & Payne by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock worth $653,000 after buying an additional 400 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 445 shares during the period. Cerity Partners LLC grew its holdings in Helmerich & Payne by 2.6% during the fourth quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company’s stock worth $555,000 after acquiring an additional 498 shares during the period. Finally, KLCM Advisors Inc. raised its position in Helmerich & Payne by 5.5% during the fourth quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 550 shares in the last quarter. Institutional investors and hedge funds 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.