Helmerich & Payne, Inc. (NYSE:HP) Receives Average Recommendation of “Hold” from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has received a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.20.

HP has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of Helmerich & Payne from $18.00 to $20.00 and gave the company a “sell” rating in a report on Monday, October 6th. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday. TD Cowen boosted their price target on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Tuesday, August 19th. Zacks Research upgraded Helmerich & Payne to a “hold” rating in a report on Monday, August 11th. Finally, Citigroup lifted their target price on Helmerich & Payne from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Helmerich & Payne

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Helmerich & Payne by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock worth $143,209,000 after buying an additional 71,168 shares during the last quarter. American Century Companies Inc. grew its position in shares of Helmerich & Payne by 7.7% in the 3rd 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 acquiring an additional 249,425 shares during the period. Invesco Ltd. increased its stake in shares of Helmerich & Payne by 1.5% during the 3rd quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock worth $66,338,000 after purchasing an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings 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 valued at $47,102,000 after purchasing an additional 87,882 shares during the period. Finally, The Manufacturers Life Insurance Company raised 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 valued at $26,083,000 after purchasing an additional 321,004 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 3.7%

HP stock opened at $26.60 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The stock has a market capitalization of $2.64 billion, a P/E ratio of -80.59 and a beta of 0.94. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $37.30. The business has a 50-day moving average of $23.95 and a 200-day moving average of $19.65.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $972.79 million. During the same period in the prior year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.8%. Helmerich & Payne’s payout ratio is -303.03%.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.