Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Recommendation of “Hold” from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $40.88.

HP has been the subject of several research analyst reports. Bank of America decreased their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. 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. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup dropped their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th.

Helmerich & Payne Trading Down 4.9 %

NYSE:HP opened at $29.63 on Friday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 3.62 and a beta of 1.42. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $45.04. 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 has a 50 day moving average of $33.93 and a 200 day moving average of $36.99.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 firm had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter last year, the firm earned $1.09 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Helmerich & Payne will post 3.48 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.37%. Helmerich & Payne’s payout ratio is 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Helmerich & Payne by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock valued at $201,543,000 after buying an additional 176,179 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Helmerich & Payne by 9.4% during the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock valued at $138,302,000 after acquiring an additional 327,802 shares during the period. Earnest Partners LLC increased its stake in shares of Helmerich & Payne by 15.7% in the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after purchasing an additional 471,420 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of Helmerich & Payne by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock valued at $80,320,000 after purchasing an additional 27,660 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Helmerich & Payne by 38.1% in the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after purchasing an additional 513,647 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.