Helmerich & Payne (NYSE:HP) Price Target Raised to $40.00

Helmerich & Payne (NYSE:HP) had its price target hoisted by Royal Bank Of Canada from $38.00 to $40.00 in a research report report published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the oil and gas company’s stock.

A number of other brokerages have also recently commented on HP. Citigroup raised their price target on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Morgan Stanley raised their price target on Helmerich & Payne from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Friday, March 20th. Piper Sandler raised their price target on Helmerich & Payne from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.10.

Helmerich & Payne Stock Up 0.3%

HP opened at $37.89 on Friday. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $41.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The company has a market capitalization of $3.79 billion, a P/E ratio of -10.00 and a beta of 0.62. The stock has a fifty day moving average of $35.92 and a 200-day moving average of $31.99.

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

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, May 18th. Helmerich & Payne’s payout ratio is currently -26.39%.

Insider Transactions at Helmerich & Payne

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,582 shares during the last quarter. Leonteq Securities AG bought a new position in Helmerich & Payne in the fourth quarter valued at about $26,000. Rothschild Investment LLC grew its position in Helmerich & Payne by 1,377.8% in the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Helmerich & Payne by 46.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 554 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Helmerich & Payne by 184.3% in the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,187 shares during the last quarter. 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.