Helmerich & Payne, Inc. (NYSE:HP) Receives $42.63 Consensus Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HPGet Free Report) has been assigned a consensus recommendation of “Reduce” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $42.63.

A number of brokerages have recently commented on HP. Benchmark cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Piper Sandler upped their target price on shares of Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. The Goldman Sachs Group reduced their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a report on Friday, January 12th. Barclays lowered shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $44.00 to $40.00 in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada boosted their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st.

Read Our Latest Analysis on HP

Helmerich & Payne Price Performance

Shares of HP opened at $39.18 on Monday. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55. The stock has a market cap of $3.87 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 8.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a fifty day moving average price of $36.89 and a 200 day moving average price of $38.85.

Helmerich & Payne (NYSE:HPGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The firm had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. During the same period in the previous year, the company earned $1.11 earnings per share. Helmerich & Payne’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Helmerich & Payne will post 3.51 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 4.29%. Helmerich & Payne’s dividend payout ratio is presently 23.87%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Helmerich & Payne by 11.9% during the fourth quarter. Wellington Management Group LLP now owns 1,004,518 shares of the oil and gas company’s stock valued at $36,384,000 after buying an additional 106,491 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $60,000. Goldman Sachs Group Inc. lifted its stake in shares of Helmerich & Payne by 2.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 979,230 shares of the oil and gas company’s stock valued at $35,468,000 after buying an additional 21,291 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $176,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Helmerich & Payne by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 101,367 shares of the oil and gas company’s stock valued at $3,673,000 after buying an additional 17,197 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

(Get Free Report

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.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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