Helmerich & Payne (NYSE:HP) Given New $47.00 Price Target at Barclays

Helmerich & Payne (NYSE:HP) had its target price lifted by Barclays from $39.00 to $47.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

Several other analysts also recently commented on the stock. Evercore upgraded shares of Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Friday, March 20th. Royal Bank Of Canada raised their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. TD Cowen raised their target price on shares of Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Finally, Susquehanna raised their target price on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.10.

Helmerich & Payne Stock Up 2.7%

Shares of HP stock opened at $37.89 on Friday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -10.00 and a beta of 0.62. Helmerich & Payne has a one year low of $14.65 and a one year high of $41.68. The company’s fifty day moving average price is $35.92 and its 200-day moving average price is $31.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The firm had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 earnings per share. Sell-side analysts expect that Helmerich & Payne will post 0.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -31.35%.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its holdings in Helmerich & Payne by 234.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock valued at $8,470,000 after buying an additional 268,882 shares in the last quarter. Fairfax Financial Holdings Ltd. Can lifted its holdings in Helmerich & Payne by 20.5% during the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock valued at $25,948,000 after buying an additional 200,000 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Helmerich & Payne by 61.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock valued at $2,606,000 after buying an additional 44,906 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Helmerich & Payne by 398.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock valued at $1,040,000 after buying an additional 37,626 shares in the last quarter. Finally, Private Advisory Group LLC bought a new stake in Helmerich & Payne during the 4th quarter valued at about $1,407,000. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.