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 eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $40.88.

Several equities analysts have commented on HP shares. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Bank of America cut their target price on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. The Goldman Sachs Group cut their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup lowered their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Helmerich & Payne in the 1st quarter valued at $33,000. Hexagon Capital Partners LLC increased its stake in Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 787 shares during the period. Covestor Ltd raised its position in Helmerich & Payne by 253.4% in the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares in the last quarter. Whittier Trust Co. lifted its stake in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the period. Finally, Creekmur Asset Management LLC acquired a new stake in Helmerich & Payne during the fourth quarter valued at approximately $60,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Down 1.2 %

Helmerich & Payne stock opened at $35.99 on Tuesday. 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 1-year low of $29.46 and a 1-year high of $44.80. The firm’s fifty day simple moving average is $32.79 and its 200-day simple moving average is $36.32. The company has a market capitalization of $3.55 billion, a P/E ratio of 10.28, a P/E/G ratio of 3.80 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. The company had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business’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. Sell-side analysts forecast that Helmerich & Payne will post 3.48 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.