Helmerich & Payne, Inc. (NYSE:HP) Stock Has Average Target Price of $44.18

Helmerich & Payne, Inc. (NYSE:HP) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.36.

HP has been the topic of several recent research reports. UBS Group raised their price target on Helmerich & Payne from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada upped their price objective on Helmerich & Payne from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 10th. Morgan Stanley increased their target price on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, August 20th. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Bank of America reiterated a “buy” rating on shares of Helmerich & Payne in a research note on Monday, October 12th.

Helmerich & Payne Stock Performance

HP traded down $0.31 on Friday, hitting $37.37. 1,545,351 shares of the company’s stock were exchanged, compared to its average volume of 1,075,947. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average of $41.61 and a two-hundred day moving average of $38.06. Helmerich & Payne has a twelve month low of $22.80 and a twelve month high of $48.17. The firm has a market cap of $3.73 billion, a PE ratio of -26.50, a P/E/G ratio of 0.89 and a beta of 0.69.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, research analysts anticipate that Helmerich & Payne will post -0.15 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is -70.92%.

Insider Buying and Selling

In related news, SVP Cara Hair sold 11,149 shares of Helmerich & Payne stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president directly owned 136,095 shares in the company, valued at $6,024,925.65. This trade represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hans Helmerich sold 94,470 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $878,000. The trade was a 82.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,673 shares of company stock valued at $4,864,590 in the last quarter. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently made changes to their positions in HP. William B. Walkup & Associates Inc. raised its position in shares of Helmerich & Payne by 1.0% in the first quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock valued at $1,270,000 after purchasing an additional 355 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Helmerich & Payne by 3.4% during the 1st quarter. Cetera Investment Advisers now owns 23,118 shares of the oil and gas company’s stock worth $833,000 after buying an additional 762 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Helmerich & Payne by 17.9% during the 3rd quarter. GAMMA Investing LLC now owns 6,158 shares of the oil and gas company’s stock worth $229,000 after buying an additional 935 shares during the period. Rockefeller Capital Management L.P. grew its stake in Helmerich & Payne by 18.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,840 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 1,200 shares during the last quarter. Finally, Cadence Wealth Management LLC grew its stake in Helmerich & Payne by 3.2% in the 1st quarter. Cadence Wealth Management LLC now owns 40,589 shares of the oil and gas company’s stock valued at $1,462,000 after buying an additional 1,247 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and natural gas exploration and production companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company operates and manages drilling rigs used to develop unconventional and conventional energy resources.

Its services include drilling-rig contracting, rig management, operational support, and technology solutions designed to improve drilling efficiency, safety, and well performance.