Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Rating of “Hold” by Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given a consensus rating of “Hold” by the twelve analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $40.10.

A number of equities research analysts recently commented on the company. Evercore raised Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, March 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th. Piper Sandler lifted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Morgan Stanley upped their price objective on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Thursday, May 14th. Finally, Citigroup cut their price objective on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $32.96 on Thursday. The business has a fifty day moving average of $37.28 and a 200 day moving average of $34.97. Helmerich & Payne has a 1 year low of $15.17 and a 1 year high of $41.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -8.70 and a beta of 0.60.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, research analysts expect that Helmerich & Payne will post -0.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is presently -26.39%.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. boosted its stake in shares of Helmerich & Payne by 174.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after buying an additional 1,298,510 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in Helmerich & Payne by 165.1% in the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after acquiring an additional 1,296,537 shares during the period. Ameriprise Financial Inc. lifted its holdings in Helmerich & Payne by 316.9% in the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock valued at $26,907,000 after acquiring an additional 925,921 shares during the period. Canoe Financial LP purchased a new stake in Helmerich & Payne in the 1st quarter worth approximately $33,130,000. Finally, Bank of America Corp DE grew its stake in shares of Helmerich & Payne by 109.2% during the 1st quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock worth $60,392,000 after purchasing an additional 874,823 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.