Royal Bank of Canada Cuts Helmerich & Payne (NYSE:HP) Price Target to $35.00

Helmerich & Payne (NYSE:HP) had its price target lowered by Royal Bank of Canada from $41.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm currently has a sector perform rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, Barclays reduced 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, November 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.75.

Helmerich & Payne Price Performance

NYSE:HP opened at $26.81 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $33.12 and a two-hundred day moving average of $33.73. The firm has a market cap of $2.66 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. Helmerich & Payne has a 12 month low of $26.75 and a 12 month high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, analysts expect that Helmerich & Payne will post 3.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.73%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Institutional Investors Weigh In On Helmerich & Payne

A number of large investors have recently made changes to their positions in HP. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $27,000. Covestor Ltd boosted its holdings in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares during the last quarter. Blue Trust Inc. raised its stake in Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the period. Quarry LP bought a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $48,000. Finally, Eastern Bank bought a new stake in shares of Helmerich & Payne in the 3rd quarter valued at about $61,000. 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.