Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. 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 company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $38.57.

A number of research analysts have commented on the stock. Citigroup cut their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. The Goldman Sachs Group dropped their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Royal Bank of Canada cut their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. Finally, Barclays lowered their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $35.26 on Wednesday. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 4.30 and a beta of 1.39. Helmerich & Payne has a one year low of $29.46 and a one year high of $44.11. The business has a fifty day simple moving average of $34.20 and a 200 day simple moving average of $34.81. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The company 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 quarter in the prior year, the company posted $0.69 EPS. Sell-side analysts expect that Helmerich & Payne will post 3.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $0.25 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.84%. Helmerich & Payne’s dividend payout ratio is 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of Helmerich & Payne by 38.1% in the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after acquiring an additional 513,647 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Helmerich & Payne by 15.7% in the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after purchasing an additional 471,420 shares in the last quarter. LSV Asset Management raised its position in Helmerich & Payne by 51.7% in the 2nd quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock worth $42,982,000 after purchasing an additional 405,179 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Helmerich & Payne by 9.4% during the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after buying an additional 327,802 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Helmerich & Payne by 1,241.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock valued at $10,604,000 after buying an additional 322,578 shares during the last quarter. 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.