Helmerich & Payne, Inc. (NYSE:HP) Receives Average Recommendation of “Hold” from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.57.

HP has been the topic of several research analyst reports. Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. Citigroup cut their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th.

Helmerich & Payne Trading Up 0.0 %

HP opened at $33.13 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11. The company has a market cap of $3.27 billion, a P/E ratio of 9.63, a PEG ratio of 4.10 and a beta of 1.39. The business’s 50-day simple moving average is $33.66 and its 200-day simple moving average is $34.22.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. As a group, equities research analysts expect that Helmerich & Payne will post 3.12 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s payout ratio is currently 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its stake in Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the period. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 854 shares in the last quarter. Quarry LP acquired a new position in shares of Helmerich & Payne during the third quarter worth about $48,000. Headlands Technologies LLC raised its holdings in Helmerich & Payne by 96.9% during the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares in the last quarter. Finally, Eastern Bank purchased a new position in Helmerich & Payne during the third quarter worth about $61,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.