Helmerich & Payne (NYSE:HP) PT Lowered to $39.00 at Piper Sandler

Helmerich & Payne (NYSE:HP) had its price objective reduced by Piper Sandler from $44.00 to $39.00 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other equities analysts have also weighed in on HP. Susquehanna decreased their target price on Helmerich & Payne from $52.00 to $50.00 and set a positive rating for the company in a research report on Friday, April 26th. Royal Bank of Canada increased their price target on Helmerich & Payne from $46.00 to $48.00 and gave the company a sector perform rating in a research note on Wednesday, January 31st. Barclays cut shares of Helmerich & Payne from an overweight rating to an equal weight rating and reduced their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Citigroup increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Finally, Benchmark reissued a hold rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $42.00.

Helmerich & Payne Price Performance

Shares of HP stock opened at $39.28 on Monday. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.85 and a beta of 1.51. The business’s fifty day moving average is $40.80 and its 200 day moving average is $38.46. Helmerich & Payne has a twelve month low of $30.41 and a twelve month high of $46.55.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The business had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the business earned $1.26 earnings per share. Research analysts expect that Helmerich & Payne will post 3.56 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 annualized dividend and a yield of 4.28%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the sale, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the completion of the transaction, the chief financial officer now owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Helmerich & Payne during the first quarter valued at $33,000. Principal Securities Inc. acquired a new stake in shares of Helmerich & Payne during the 4th quarter valued at about $35,000. Hexagon Capital Partners LLC increased its stake in shares of Helmerich & Payne by 514.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 787 shares in the last quarter. Whittier Trust Co. raised its position in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 595 shares during the period. Finally, Creekmur Asset Management LLC purchased a new position in Helmerich & Payne during the fourth quarter valued at $60,000. 96.05% of the stock is 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.