Morgan Stanley Raises Helmerich & Payne (NYSE:HP) Price Target to $60.00

Helmerich & Payne (NYSE:HPGet Rating) had its price objective boosted by Morgan Stanley from $55.00 to $60.00 in a research report report published on Monday, MarketBeat reports. Morgan Stanley currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities research analysts also recently weighed in on HP. Piper Sandler lifted their target price on Helmerich & Payne from $61.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, November 18th. Susquehanna lifted their price objective on Helmerich & Payne from $62.00 to $65.00 and gave the company a positive rating in a report on Friday, November 18th. TheStreet raised Helmerich & Payne from a c rating to a b- rating in a report on Wednesday, November 16th. Royal Bank of Canada lifted their price objective on Helmerich & Payne from $63.00 to $68.00 and gave the company an outperform rating in a report on Friday, November 18th. Finally, StockNews.com began coverage on Helmerich & Payne in a report on Wednesday, October 12th. They set a hold rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $60.55.

Helmerich & Payne Stock Down 3.9 %

HP stock opened at $51.78 on Monday. Helmerich & Payne has a twelve month low of $20.93 and a twelve month high of $54.59. The company has a market cap of $5.46 billion, a PE ratio of 1,035.81 and a beta of 1.75. The business’s 50-day simple moving average is $45.51 and its 200 day simple moving average is $44.72. The company has a quick ratio of 2.32, a current ratio of 2.54 and a debt-to-equity ratio of 0.20.

Helmerich & Payne (NYSE:HPGet Rating) last released its earnings results on Thursday, November 17th. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. The business had revenue of $631.33 million for the quarter, compared to the consensus estimate of $597.29 million. During the same period last year, the business earned ($0.62) earnings per share. The firm’s revenue for the quarter was up 83.6% compared to the same quarter last year. On average, research analysts anticipate that Helmerich & Payne will post 4.21 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, November 14th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 2,000.40%.

Insider Buying and Selling

In related news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the transaction, the senior vice president now owns 117,395 shares in the company, valued at approximately $5,869,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the transaction, the senior vice president now owns 117,395 shares in the company, valued at approximately $5,869,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Raymond John Adams III sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total transaction of $71,250.00. Following the completion of the transaction, the senior vice president now owns 52,935 shares of the company’s stock, valued at approximately $2,514,412.50. The disclosure for this sale can be found here. 4.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky acquired a new stake in Helmerich & Payne during the 3rd quarter worth $1,199,000. Captrust Financial Advisors grew its holdings in Helmerich & Payne by 5.8% during the 3rd quarter. Captrust Financial Advisors now owns 13,630 shares of the oil and gas company’s stock worth $504,000 after acquiring an additional 753 shares during the period. Balyasny Asset Management LLC grew its holdings in Helmerich & Payne by 32.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 116,841 shares of the oil and gas company’s stock worth $4,320,000 after acquiring an additional 28,309 shares during the period. Mather Group LLC. acquired a new stake in Helmerich & Payne during the 3rd quarter worth $351,000. Finally, United Services Automobile Association grew its holdings in Helmerich & Payne by 1.8% during the 3rd quarter. United Services Automobile Association now owns 11,486 shares of the oil and gas company’s stock worth $425,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds own 94.61% of the company’s stock.

About Helmerich & Payne

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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.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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