Jefferies Group LLC set a $50.00 target price on Helmerich & Payne, Inc. (NYSE:HP) in a research note released on Thursday morning. The brokerage currently has a hold rating on the oil and gas company’s stock.

A number of other analysts also recently issued reports on the stock. Sanford C. Bernstein reiterated an outperform rating and issued a $66.00 price target on shares of Helmerich & Payne in a report on Wednesday, September 6th. Iberia Capital downgraded shares of Helmerich & Payne from an outperform rating to a sector perform rating and reduced their price target for the company from $74.00 to $55.00 in a report on Monday, July 31st. J P Morgan Chase & Co reduced their price target on shares of Helmerich & Payne from $44.00 to $38.00 and set an underweight rating on the stock in a report on Tuesday, September 12th. BidaskClub upgraded shares of Helmerich & Payne from a strong sell rating to a sell rating in a report on Tuesday, June 13th. Finally, BMO Capital Markets reduced their price target on shares of Helmerich & Payne from $54.00 to $40.00 and set an underperform rating on the stock in a report on Friday, July 14th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $54.71.

Shares of Helmerich & Payne (NYSE HP) traded down 1.23% on Thursday, reaching $51.53. 1,318,307 shares of the company traded hands. The stock has a 50-day moving average price of $47.64 and a 200 day moving average price of $54.83. Helmerich & Payne has a 1-year low of $42.16 and a 1-year high of $85.78. The firm’s market capitalization is $5.60 billion.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. The company had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. Helmerich & Payne’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) EPS. Analysts anticipate that Helmerich & Payne will post ($1.30) EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.43%. Helmerich & Payne’s dividend payout ratio is presently -167.66%.

In other news, CEO John W. Lindsay purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $47.73 per share, with a total value of $238,650.00. Following the purchase, the chief executive officer now owns 147,727 shares in the company, valued at $7,051,009.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in HP. Ffcm LLC boosted its position in Helmerich & Payne by 409.2% in the 2nd quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 2,308 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Helmerich & Payne in the 1st quarter valued at about $172,000. AlphaMark Advisors LLC boosted its position in Helmerich & Payne by 3.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 101 shares during the period. Marshall Wace North America L.P. purchased a new stake in Helmerich & Payne in the 1st quarter valued at about $209,000. Finally, Murphy Capital Management Inc. boosted its position in Helmerich & Payne by 2.6% in the 2nd quarter. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 100 shares during the period.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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