Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $42.88

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned an average recommendation of “Reduce” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $42.88.

HP has been the subject of several research reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Thursday. Citigroup increased their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada increased their price target on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group decreased their price target on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th. Finally, Barclays lowered Helmerich & Payne from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $44.00 to $40.00 in a research report on Wednesday, January 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HP. Dimensional Fund Advisors LP grew its holdings in shares of Helmerich & Payne by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock worth $187,668,000 after purchasing an additional 19,622 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Helmerich & Payne by 4.0% during the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after purchasing an additional 113,735 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Helmerich & Payne by 130.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after purchasing an additional 1,541,987 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Helmerich & Payne by 8.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after purchasing an additional 210,321 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Helmerich & Payne by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after purchasing an additional 34,863 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Trading Down 4.7 %

Shares of HP stock opened at $40.42 on Tuesday. The stock has a 50-day simple moving average of $40.74 and a 200 day simple moving average of $38.71. Helmerich & Payne has a fifty-two week low of $30.41 and a fifty-two week high of $46.55. The stock has a market capitalization of $3.99 billion, a P/E ratio of 9.65, a P/E/G ratio of 2.03 and a beta of 1.51. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 0.20.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. During the same quarter last year, the business posted $1.11 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts expect that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 23.87%.

Helmerich & Payne Company Profile

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.