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

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

Several other equities research analysts have also commented on HP. Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. The Goldman Sachs Group lowered their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup lowered their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.57.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $36.05 on Wednesday. The firm’s 50 day moving average is $33.86 and its two-hundred day moving average is $35.02. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.11. The firm has a market capitalization of $3.56 billion, a P/E ratio of 10.48, a PEG ratio of 3.97 and a beta of 1.40. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. During the same quarter last year, the business earned $0.69 earnings per share. Helmerich & Payne’s revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Helmerich & Payne will post 3.21 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s payout ratio is 29.07%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HP. American Century Companies Inc. boosted its stake in Helmerich & Payne by 38.1% in 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 boosted its stake in 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. LSV Asset Management boosted its stake 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 purchasing an additional 405,179 shares during the period. Pacer Advisors Inc. boosted its stake in Helmerich & Payne by 9.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after purchasing an additional 327,802 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Helmerich & Payne by 1,241.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock worth $10,604,000 after purchasing an additional 322,578 shares during the period. 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.