Helmerich & Payne (NYSE:HP) Price Target Cut to $33.00 by Analysts at Citigroup

Helmerich & Payne (NYSE:HP) had its price target decreased by Citigroup from $41.00 to $33.00 in a research report released on Friday, Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.

Several other research firms have also commented on HP. Piper Sandler cut their price target on Helmerich & Payne from $39.00 to $36.00 and set a neutral rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada lifted their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a sector perform rating in a report on Friday, July 26th. Evercore ISI upgraded shares of Helmerich & Payne to a strong-buy rating in a research note on Friday, July 26th. Benchmark reissued a hold rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, Bank of America reduced their target price on shares of Helmerich & Payne from $42.50 to $40.00 and set a buy rating for the company in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Helmerich & Payne currently has a consensus rating of Hold and an average target price of $40.88.

Helmerich & Payne Trading Down 2.5 %

Shares of Helmerich & Payne stock opened at $29.86 on Friday. The company has a fifty day simple moving average of $35.09 and a 200-day simple moving average of $37.43. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $46.55. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 3.29 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The company had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Helmerich & Payne’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Helmerich & Payne will post 3.57 EPS for the current fiscal 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 dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 3.35%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently added to or reduced their stakes in HP. BNP Paribas Financial Markets increased its holdings in shares of Helmerich & Payne by 61.2% in the 4th 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 in the last quarter. Alberta Investment Management Corp purchased a new position in Helmerich & Payne in the fourth quarter valued at about $1,206,000. Gendell Jeffrey L lifted its position in shares of Helmerich & Payne by 44.9% during the 4th quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock valued at $14,697,000 after acquiring an additional 125,671 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Helmerich & Payne during the 1st quarter valued at approximately $1,065,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Helmerich & Payne by 10.3% during the 1st quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after acquiring an additional 14,347 shares in the last quarter. Institutional investors and hedge funds 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.