Helmerich & Payne (NYSE:HP) Price Target Increased to $42.00 by Analysts at Citigroup

Helmerich & Payne (NYSE:HP) had its target price boosted by Citigroup from $40.00 to $42.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

A number of other brokerages also recently commented on HP. Barclays downgraded Helmerich & Payne from an overweight rating to an equal weight rating and cut their price objective for the company from $44.00 to $40.00 in a research report on Wednesday, January 10th. Piper Sandler boosted their target price on shares of Helmerich & Payne from $41.00 to $44.00 and gave the company a neutral rating in a research note on Tuesday, February 20th. Royal Bank of Canada boosted their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a sector perform rating in a research note on Wednesday, January 31st. Susquehanna boosted their target price on shares of Helmerich & Payne from $50.00 to $52.00 and gave the company a positive rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group cut their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a sell rating on the stock in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of Hold and a consensus target price of $42.88.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $41.17 on Tuesday. Helmerich & Payne has a one year low of $30.41 and a one year high of $46.55. The stock has a fifty day moving average of $40.33 and a 200-day moving average of $38.63. The company has a market capitalization of $4.07 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.89 and a current ratio of 2.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Helmerich & Payne will post 3.61 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 23.87%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently modified their holdings of HP. JPMorgan Chase & Co. increased its stake in shares of Helmerich & Payne by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock worth $14,071,000 after acquiring an additional 7,160 shares during the last quarter. Raymond James & Associates increased its stake in shares of Helmerich & Payne by 3.9% in the first quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock worth $799,000 after acquiring an additional 709 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Helmerich & Payne in the first quarter worth $353,000. HighTower Advisors LLC boosted its holdings in Helmerich & Payne by 4.2% in the first quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock worth $799,000 after purchasing an additional 743 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in Helmerich & Payne in the first quarter worth $272,000. 96.05% of the stock is 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.