Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Recommendation of “Hold” from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.88.

A number of research analysts have recently weighed in on the company. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group decreased their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Royal Bank of Canada upped their price target on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Piper Sandler lowered their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 15th.

Helmerich & Payne Stock Down 4.9 %

Shares of HP opened at $29.63 on Friday. The business’s 50 day moving average is $33.93 and its 200 day moving average is $36.99. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $45.04. The company has a market capitalization of $2.93 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.77 by $0.15. The firm had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Research analysts expect that Helmerich & Payne will post 3.48 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HP. The Manufacturers Life Insurance Company increased its stake in shares of Helmerich & Payne by 937.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock valued at $30,487,000 after buying an additional 760,554 shares during the period. American Century Companies Inc. increased its position in Helmerich & Payne by 38.1% during the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after purchasing an additional 513,647 shares during the period. ARGA Investment Management LP raised its holdings in shares of Helmerich & Payne by 55.4% in the 1st quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock valued at $57,988,000 after purchasing an additional 491,589 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Helmerich & Payne by 15.7% in the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after purchasing an additional 471,420 shares during the period. Finally, LSV Asset Management raised its stake in Helmerich & Payne by 51.7% in the second quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock worth $42,982,000 after buying an additional 405,179 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

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.