Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Recommendation of “Hold” by Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been given an average rating of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.10.

A number of research firms have recently commented on HP. Morgan Stanley increased their price objective on Helmerich & Payne from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, April 15th. Citigroup increased their price objective on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Susquehanna increased their price objective on Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, Barclays increased their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, May 8th.

Insider Transactions at Helmerich & Payne

In related news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Helmerich & Payne by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after buying an additional 570,500 shares during the last quarter. State Street Corp grew its stake in Helmerich & Payne by 0.8% during the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after buying an additional 33,193 shares during the last quarter. American Century Companies Inc. grew its stake in Helmerich & Payne by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock worth $76,741,000 after buying an additional 249,425 shares during the last quarter. Invesco Ltd. grew its stake in Helmerich & Payne by 15.5% during the 4th quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock worth $99,477,000 after buying an additional 465,440 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Helmerich & Payne by 4.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock worth $47,102,000 after buying an additional 87,882 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

HP stock opened at $39.15 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. The firm has a market capitalization of $3.91 billion, a P/E ratio of -10.33 and a beta of 0.62. The business’s 50-day moving average is $36.15 and its two-hundred day moving average is $32.31. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $41.68.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The company had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. Helmerich & Payne’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Analysts anticipate that Helmerich & Payne will post 0.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, May 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.