Helmerich & Payne, Inc. (NYSE:HP) Receives $33.00 Average Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has earned an average rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $33.9091.

HP has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Piper Sandler raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price target for the company from $21.00 to $35.00 in a research report on Thursday, December 18th. TD Cowen reiterated a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 7th. Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, Evercore lifted their price objective on Helmerich & Payne from $20.00 to $27.00 and gave the stock an “in-line” rating in a report on Wednesday, November 19th.

Insider Buying and Selling

In related news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the transaction, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. The trade was a 13.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in Helmerich & Payne by 7.7% during the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock valued at $76,741,000 after buying an additional 249,425 shares during the last quarter. Invesco Ltd. lifted its position in Helmerich & Payne by 1.5% during the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock valued at $66,338,000 after purchasing an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Helmerich & Payne by 4.3% in 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Helmerich & Payne by 22.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock worth $26,083,000 after buying an additional 321,004 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Helmerich & Payne by 17.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,550,279 shares of the oil and gas company’s stock worth $34,246,000 after buying an additional 231,737 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 4.3%

Shares of Helmerich & Payne stock opened at $36.00 on Monday. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $36.73. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57. The company has a 50-day moving average of $30.82 and a 200 day moving average of $25.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.40.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 13th. This represents a $1.00 annualized dividend and a yield of 2.8%. Helmerich & Payne’s payout ratio is -59.88%.

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.