Helmerich & Payne, Inc. (NYSE:HP) has received a consensus recommendation of “Hold” from the twenty-four brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $27.96.
Several research analysts recently weighed in on HP shares. Bank of America raised shares of Helmerich & Payne from an “underperform” rating to a “neutral” rating in a research note on Friday, July 16th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Helmerich & Payne in a research note on Thursday, September 9th. Morgan Stanley lifted their target price on shares of Helmerich & Payne from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday. Evercore ISI upgraded Helmerich & Payne to a “buy” rating and set a $42.00 price target for the company in a report on Friday, July 30th. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Helmerich & Payne in a report on Thursday, July 15th.
A number of hedge funds and other institutional investors have recently made changes to their positions in HP. BlackRock Inc. boosted its position in shares of Helmerich & Payne by 19.8% in the second quarter. BlackRock Inc. now owns 17,728,705 shares of the oil and gas company’s stock worth $578,488,000 after buying an additional 2,935,130 shares during the period. Van ECK Associates Corp lifted its position in Helmerich & Payne by 119.5% during the 2nd quarter. Van ECK Associates Corp now owns 4,198,764 shares of the oil and gas company’s stock worth $137,006,000 after acquiring an additional 2,286,230 shares in the last quarter. Bank of Montreal Can boosted its holdings in Helmerich & Payne by 120.4% in the 1st quarter. Bank of Montreal Can now owns 262,812 shares of the oil and gas company’s stock worth $7,070,000 after acquiring an additional 1,548,664 shares during the period. State Street Corp boosted its holdings in Helmerich & Payne by 24.8% in the 2nd quarter. State Street Corp now owns 3,959,710 shares of the oil and gas company’s stock worth $129,205,000 after acquiring an additional 786,785 shares during the period. Finally, Millennium Management LLC grew its position in Helmerich & Payne by 1,431.7% in the first quarter. Millennium Management LLC now owns 664,698 shares of the oil and gas company’s stock valued at $17,920,000 after acquiring an additional 621,301 shares in the last quarter. Hedge funds and other institutional investors own 90.44% of the company’s stock.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 28th. The oil and gas company reported ($0.57) earnings per share for the quarter, hitting the consensus estimate of ($0.57). Helmerich & Payne had a negative return on equity of 9.21% and a negative net margin of 28.25%. The company had revenue of $332.21 million during the quarter, compared to the consensus estimate of $322.76 million. During the same quarter last year, the business posted ($0.34) earnings per share. As a group, research analysts expect that Helmerich & Payne will post -2.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Tuesday, November 23rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.18%. Helmerich & Payne’s payout ratio is -116.28%.
About Helmerich & Payne
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.
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