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.
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.
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.
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