Brokerages Set Helmerich & Payne, Inc. (NYSE:HP) Price Target at $31.78

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned an average recommendation of “Hold” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.20.

Several brokerages recently weighed in on HP. Argus raised Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Citigroup dropped their price objective on shares of Helmerich & Payne from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada decreased their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. TD Cowen cut their price target on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Susquehanna lowered their price objective on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, April 14th.

Helmerich & Payne Stock Down 0.3 %

Shares of Helmerich & Payne stock opened at $18.28 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a 12-month low of $17.60 and a 12-month high of $42.60. The company has a market cap of $1.82 billion, a P/E ratio of 6.01, a PEG ratio of 3.52 and a beta of 0.93. The company’s fifty day simple moving average is $22.20 and its two-hundred day simple moving average is $28.87.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Helmerich & Payne’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. Research analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.47%. Helmerich & Payne’s dividend payout ratio (DPR) is 32.89%.

Insider Buying and Selling

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares of the company’s stock, valued at $1,478,730.48. This represents a 216.56 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Kestra Investment Management LLC bought a new stake in Helmerich & Payne during the 4th quarter worth approximately $27,000. Versant Capital Management Inc increased its stake in Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock worth $44,000 after buying an additional 867 shares in the last quarter. Covestor Ltd raised its holdings in Helmerich & Payne by 61.3% during the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 907 shares during the period. GAMMA Investing LLC lifted its position in shares of Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock valued at $83,000 after acquiring an additional 1,459 shares in the last quarter. Finally, Steph & Co. purchased a new stake in shares of Helmerich & Payne during the fourth quarter worth about $87,000. 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.