Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Rating of “Reduce” from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus recommendation of “Reduce” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $23.30.

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Helmerich & Payne from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Monday. Piper Sandler raised their target price on Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Saturday, September 27th. Susquehanna decreased their target price on Helmerich & Payne from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada raised their target price on Helmerich & Payne from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th.

Insider Activity

In other news, CAO Sara Marie Momper sold 6,700 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the completion of the sale, the chief accounting officer directly owned 21,908 shares of the company’s stock, valued at $390,619.64. This trade represents a 23.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently added to or reduced their stakes in the company. Ellis Investment Partners LLC increased its holdings in Helmerich & Payne by 4.5% in the 1st quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 558 shares during the last quarter. Ridgewood Investments LLC increased its holdings in Helmerich & Payne by 4.4% in the 1st quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company’s stock worth $350,000 after acquiring an additional 569 shares during the last quarter. Xponance Inc. increased its holdings in Helmerich & Payne by 7.6% in the 1st quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 587 shares during the last quarter. Radnor Capital Management LLC increased its holdings in Helmerich & Payne by 1.5% in the 2nd quarter. Radnor Capital Management LLC now owns 43,674 shares of the oil and gas company’s stock worth $662,000 after acquiring an additional 630 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Helmerich & Payne by 4.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,088 shares of the oil and gas company’s stock worth $229,000 after acquiring an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 2.8%

NYSE HP opened at $23.69 on Tuesday. The firm has a market capitalization of $2.36 billion, a P/E ratio of -71.79 and a beta of 0.91. The business has a fifty day simple moving average of $19.64 and a 200 day simple moving average of $18.85. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $37.46. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.Helmerich & Payne’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. On average, analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders 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 4.2%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -303.03%.

About Helmerich & Payne

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.