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

Helmerich & Payne, Inc. (NYSE:HP) has earned a consensus recommendation of “Reduce” from the ten analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $42.63.

HP has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group lowered 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. Susquehanna cut their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday. Barclays downgraded Helmerich & Payne from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $44.00 to $40.00 in a research report on Wednesday, January 10th. Finally, Citigroup boosted their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th.

Helmerich & Payne Trading Up 1.1 %

Shares of NYSE:HP opened at $40.82 on Tuesday. Helmerich & Payne has a 1 year low of $30.41 and a 1 year high of $46.55. The firm has a fifty day moving average price of $40.78 and a 200 day moving average price of $38.65. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $4.03 billion, a PE ratio of 11.66, a P/E/G ratio of 1.93 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $687.94 million for the quarter, compared to the consensus estimate of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business’s revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. Analysts expect that Helmerich & Payne will post 3.59 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently modified their holdings of HP. Capital Investment Advisors LLC acquired a new stake in shares of Helmerich & Payne during the 3rd quarter valued at about $222,000. Integrated Investment Consultants LLC boosted its holdings in Helmerich & Payne by 23.9% during the third quarter. Integrated Investment Consultants LLC now owns 9,453 shares of the oil and gas company’s stock valued at $399,000 after purchasing an additional 1,822 shares in the last quarter. Raymond James & Associates boosted its holdings in Helmerich & Payne by 189.6% during the third quarter. Raymond James & Associates now owns 51,946 shares of the oil and gas company’s stock valued at $2,190,000 after purchasing an additional 34,007 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Helmerich & Payne by 5.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,178 shares of the oil and gas company’s stock valued at $935,000 after purchasing an additional 1,118 shares during the period. Finally, Strs Ohio raised its holdings in shares of Helmerich & Payne by 134.3% in the 3rd quarter. Strs Ohio now owns 31,400 shares of the oil and gas company’s stock worth $1,323,000 after buying an additional 18,000 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.