Helmerich & Payne, Inc. (HP) Receives $71.14 Consensus Target Price from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned a consensus recommendation of “Hold” from the twenty-five brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $71.14.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday, October 9th. Wolfe Research assumed coverage on shares of Helmerich & Payne in a research note on Wednesday, October 10th. They issued an “underperform” rating for the company. B. Riley set a $83.00 target price on shares of Helmerich & Payne and gave the company a “buy” rating in a research note on Sunday, October 7th. Capital One Financial upgraded shares of Helmerich & Payne from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 5th. Finally, Wells Fargo & Co set a $72.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Monday, October 15th. They noted that the move was a valuation call.

In other news, CEO John W. Lindsay sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Chapman Paula Marshall sold 11,309 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.13, for a total transaction of $736,555.17. Following the transaction, the director now directly owns 14,874 shares in the company, valued at $968,743.62. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.



Several institutional investors and hedge funds have recently made changes to their positions in HP. Janus Henderson Group PLC increased its holdings in shares of Helmerich & Payne by 692.2% during the second quarter. Janus Henderson Group PLC now owns 687,928 shares of the oil and gas company’s stock worth $43,862,000 after purchasing an additional 601,088 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Helmerich & Payne during the second quarter worth approximately $21,926,000. Pinnacle Associates Ltd. increased its holdings in shares of Helmerich & Payne by 163.1% during the second quarter. Pinnacle Associates Ltd. now owns 505,777 shares of the oil and gas company’s stock worth $32,248,000 after purchasing an additional 313,569 shares during the period. Bank of Montreal Can bought a new position in shares of Helmerich & Payne during the second quarter worth approximately $18,061,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Helmerich & Payne by 2,144,000.0% during the second quarter. Canada Pension Plan Investment Board now owns 214,410 shares of the oil and gas company’s stock worth $13,671,000 after purchasing an additional 214,400 shares during the period. 92.11% of the stock is currently owned by institutional investors.

Helmerich & Payne stock opened at $62.67 on Thursday. Helmerich & Payne has a one year low of $51.28 and a one year high of $75.02. The company has a quick ratio of 2.57, a current ratio of 2.97 and a debt-to-equity ratio of 0.11.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The firm had revenue of $648.87 million during the quarter, compared to analyst estimates of $617.06 million. During the same quarter last year, the business posted ($0.25) earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, analysts forecast that Helmerich & Payne will post 0.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.84 annualized dividend and a yield of 4.53%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -223.62%.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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