Several other analysts also recently issued reports on HP. Jefferies Financial Group raised shares of Helmerich & Payne from a hold rating to a buy rating and set a $80.00 target price on the stock in a research note on Tuesday, June 19th. ValuEngine downgraded shares of Helmerich & Payne from a buy rating to a hold rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. boosted their target price on shares of Helmerich & Payne from $47.00 to $49.00 and gave the company an underweight rating in a research note on Friday, July 27th. Stephens raised shares of Helmerich & Payne from an equal weight rating to an overweight rating and set a $67.00 target price on the stock in a research note on Monday, July 30th. Finally, Piper Jaffray Companies set a $67.00 target price on shares of Helmerich & Payne and gave the company a hold rating in a research note on Sunday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Helmerich & Payne presently has an average rating of Hold and an average price target of $72.29.
NYSE:HP traded up $1.17 during trading hours on Friday, hitting $69.41. 1,040,793 shares of the stock traded hands, compared to its average volume of 1,435,044. The company has a quick ratio of 2.57, a current ratio of 2.97 and a debt-to-equity ratio of 0.11. Helmerich & Payne has a fifty-two week low of $50.64 and a fifty-two week high of $75.02. The company has a market cap of $7.49 billion, a P/E ratio of -54.65 and a beta of 1.36.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The firm had revenue of $648.87 million for the quarter, compared to analyst estimates of $617.06 million. During the same period last year, the firm earned ($0.25) earnings per share. Helmerich & Payne’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne will post 0.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, November 8th. Helmerich & Payne’s dividend payout ratio is currently -223.62%.
In related news, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the sale, the director now directly owns 14,874 shares in the company, valued at $968,743.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Lindsay sold 30,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new stake in Helmerich & Payne in the second quarter worth $134,000. Rampart Investment Management Company LLC boosted its holdings in Helmerich & Payne by 84.3% in the first quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock worth $163,000 after purchasing an additional 1,122 shares in the last quarter. Viking Fund Management LLC bought a new stake in Helmerich & Payne in the second quarter worth $159,000. Independent Advisor Alliance bought a new stake in Helmerich & Payne in the second quarter worth $207,000. Finally, Argus Investors Counsel Inc. bought a new stake in Helmerich & Payne in the second quarter worth $243,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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