Benchmark Reiterates Hold Rating for Helmerich & Payne (NYSE:HP)

Benchmark restated their hold rating on shares of Helmerich & Payne (NYSE:HP) in a research note published on Thursday morning,Benzinga reports.

A number of other equities research analysts also recently issued reports on the company. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Citigroup decreased their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Barclays dropped their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday. The Goldman Sachs Group reduced their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $38.57.

Helmerich & Payne Price Performance

Shares of NYSE HP traded up $0.63 during midday trading on Thursday, reaching $35.06. 24,027 shares of the stock traded hands, compared to its average volume of 1,376,691. The company’s 50 day moving average is $33.73 and its 200 day moving average is $35.04. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11. The stock has a market capitalization of $3.46 billion, a PE ratio of 10.06, a P/E/G ratio of 3.97 and a beta of 1.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The business had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. On average, equities research analysts anticipate that Helmerich & Payne will post 3.21 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.85%. Helmerich & Payne’s payout ratio is 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in HP. Covestor Ltd lifted its position in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares during the period. Blue Trust Inc. boosted its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 854 shares during the last quarter. Headlands Technologies LLC increased its holdings in Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after buying an additional 757 shares during the period. Quarry LP purchased a new position in shares of Helmerich & Payne during the third quarter worth $48,000. Finally, Eastern Bank purchased a new position in shares of Helmerich & Payne during the 3rd quarter valued at about $61,000. Institutional investors own 96.05% of the company’s stock.

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.