Helmerich & Payne (NYSE:HP) Price Target Lowered to $36.00 at Barclays

Helmerich & Payne (NYSE:HP) had its price target reduced by Barclays from $39.00 to $36.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

HP has been the topic of a number of other reports. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Citigroup decreased their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada cut their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. 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. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $33.73 on Wednesday. The stock has a fifty day moving average price of $33.65 and a 200 day moving average price of $35.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The stock has a market cap of $3.33 billion, a PE ratio of 9.81, a P/E/G ratio of 3.62 and a beta of 1.40. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. Sell-side analysts forecast that Helmerich & Payne will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.96%. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in HP. American Century Companies Inc. boosted 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 worth $67,306,000 after purchasing an additional 513,647 shares during the period. Earnest Partners LLC increased its stake in Helmerich & Payne by 15.7% during 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 buying an additional 471,420 shares during the period. LSV Asset Management lifted its holdings in Helmerich & Payne by 51.7% in the 2nd 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. Pacer Advisors Inc. boosted its holdings in Helmerich & Payne by 9.4% in the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock valued at $138,302,000 after purchasing an additional 327,802 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Helmerich & Payne by 1,241.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock valued at $10,604,000 after purchasing an additional 322,578 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.