Helmerich & Payne (NYSE:HP) Price Target Lowered to $36.00 at Barclays

Helmerich & Payne (NYSE:HP) had its price target reduced by Barclays from $39.00 to $36.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Citigroup dropped their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Stock Up 4.7 %

Helmerich & Payne stock opened at $36.05 on Wednesday. The company has a market capitalization of $3.56 billion, a P/E ratio of 10.48, a P/E/G ratio of 3.97 and a beta of 1.40. The firm’s fifty day simple moving average is $33.86 and its 200-day simple moving average is $35.02. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $44.11.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The business had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. Helmerich & Payne’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Sell-side analysts forecast that Helmerich & Payne will post 3.21 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.77%. Helmerich & Payne’s dividend payout ratio is 29.07%.

Institutional Trading of Helmerich & Payne

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D grew its position in Helmerich & Payne by 18.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock worth $1,784,000 after purchasing an additional 9,004 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Helmerich & Payne during the 1st quarter valued at about $1,065,000. Wedge Capital Management L L P NC boosted its position in shares of Helmerich & Payne by 13.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock valued at $6,809,000 after acquiring an additional 21,852 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Helmerich & Payne during the 1st quarter valued at about $642,000. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Helmerich & Payne during the 1st quarter valued at about $1,009,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.