Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Rating of “Reduce” by Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned a consensus recommendation of “Reduce” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $42.29.

HP has been the topic of several recent analyst reports. Piper Sandler reduced their target price on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Susquehanna reduced their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Finally, Citigroup increased their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th.

Insider Buying and Selling

In related news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Smith sold 16,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. 4.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jump Financial LLC purchased a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $3,561,000. BNP Paribas Financial Markets increased its holdings in shares of Helmerich & Payne by 61.2% in the fourth quarter. BNP Paribas Financial Markets now owns 331,343 shares of the oil and gas company’s stock valued at $12,001,000 after purchasing an additional 125,768 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at approximately $1,206,000. Gendell Jeffrey L increased its holdings in shares of Helmerich & Payne by 44.9% in the fourth quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock valued at $14,697,000 after purchasing an additional 125,671 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Helmerich & Payne by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock valued at $95,211,000 after purchasing an additional 210,321 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 1.1 %

Shares of NYSE HP opened at $37.60 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. The stock has a market capitalization of $3.71 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. Helmerich & Payne has a 1-year low of $32.17 and a 1-year high of $46.55. The business has a fifty day moving average price of $36.34 and a 200 day moving average price of $37.93.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The business had revenue of $687.94 million for the quarter, compared to analyst estimates of $682.51 million. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis. Equities research analysts expect that Helmerich & Payne will post 3.46 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, August 16th. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

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.