Helmerich & Payne, Inc. (NYSE:HP) Receives Average Rating of “Hold” from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has received an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $41.88.

A number of brokerages have recently commented on HP. Susquehanna lowered their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Monday. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Citigroup raised their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler cut their target price on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Helmerich & Payne in the fourth quarter worth approximately $466,000. Raymond James & Associates increased its position in Helmerich & Payne by 32.8% during the fourth quarter. Raymond James & Associates now owns 68,980 shares of the oil and gas company’s stock worth $2,498,000 after buying an additional 17,034 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Helmerich & Payne by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after buying an additional 34,863 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth about $318,000. Finally, Fulton Bank N.A. increased its holdings in shares of Helmerich & Payne by 6.1% during the 4th quarter. Fulton Bank N.A. now owns 9,770 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 566 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Up 0.4 %

HP stock opened at $34.00 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $36.39 and its 200 day simple moving average is $38.38. The stock has a market cap of $3.36 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 4.19 and a beta of 1.47. Helmerich & Payne has a fifty-two week low of $32.17 and a fifty-two week high of $46.55.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million for the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Helmerich & Payne will post 3.51 EPS for the current year.

Helmerich & Payne Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. Helmerich & Payne’s dividend payout ratio is 28.57%.

About Helmerich & Payne

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.