Helmerich & Payne, Inc. (HP) Given a $50.00 Price Target by Jefferies Group LLC Analysts
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.
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.
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