Helmerich & Payne, Inc. (HP) Receives $58.00 Average Target Price from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been given an average recommendation of “Hold” by the thirty brokerages that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $58.22.

Several equities research analysts recently commented on the company. Tudor Pickering upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Royal Bank of Canada set a $68.00 target price on Helmerich & Payne and gave the company a “hold” rating in a report on Thursday, December 21st. Citigroup upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating in a report on Thursday, January 4th. Jefferies Group set a $65.00 target price on Helmerich & Payne and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Stephens assumed coverage on Helmerich & Payne in a report on Tuesday, January 9th. They set an “equal weight” rating and a $67.00 target price on the stock.

Shares of Helmerich & Payne stock traded up $1.15 during trading hours on Friday, reaching $73.66. The stock had a trading volume of 491,586 shares, compared to its average volume of 1,739,872. The company has a market cap of $7,785.06, a price-to-earnings ratio of -57.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.28 and a quick ratio of 2.89. Helmerich & Payne has a 1 year low of $42.16 and a 1 year high of $75.02.



Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $547.64 million. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. The company’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period last year, the business posted ($0.33) EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, May 17th. This represents a $2.80 annualized dividend and a yield of 3.80%. Helmerich & Payne’s dividend payout ratio is presently -220.47%.

In other news, CFO Juan Pablo Tardio sold 10,880 shares of Helmerich & Payne stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $65.90, for a total value of $716,992.00. Following the completion of the transaction, the chief financial officer now owns 16,628 shares in the company, valued at approximately $1,095,785.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Chapman Paula Marshall sold 4,122 shares of Helmerich & Payne stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $71.40, for a total value of $294,310.80. Following the completion of the transaction, the director now owns 16,647 shares of the company’s stock, valued at approximately $1,188,595.80. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of HP. Capital International Investors grew its position in shares of Helmerich & Payne by 37.2% in the 3rd quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock worth $418,279,000 after acquiring an additional 2,177,139 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Helmerich & Payne by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 7,189,211 shares of the oil and gas company’s stock worth $464,727,000 after acquiring an additional 934,765 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Helmerich & Payne in the 4th quarter worth approximately $53,727,000. Millennium Management LLC grew its position in shares of Helmerich & Payne by 413.9% in the 4th quarter. Millennium Management LLC now owns 627,705 shares of the oil and gas company’s stock worth $40,575,000 after acquiring an additional 827,705 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Helmerich & Payne by 664.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 716,399 shares of the oil and gas company’s stock worth $37,332,000 after acquiring an additional 622,696 shares in the last quarter.

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About Helmerich & Payne

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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