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

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $42.00.

HP has been the topic of several research reports. Piper Sandler lowered their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Bank of America decreased their price target on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 15th.

Institutional Trading of Helmerich & Payne

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Helmerich & Payne by 937.0% in the 4th 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 purchasing an additional 760,554 shares in the last quarter. ARGA Investment Management LP lifted its stake in Helmerich & Payne by 497.3% in the fourth quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock worth $32,131,000 after purchasing an additional 738,594 shares during the last quarter. LSV Asset Management boosted its position in Helmerich & Payne by 11,750.0% during the fourth quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock valued at $20,602,000 after buying an additional 564,000 shares during the period. American Century Companies Inc. grew its stake in shares of Helmerich & Payne by 38.1% during the second 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 buying an additional 513,647 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Helmerich & Payne by 15.7% in the second 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. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 1.7 %

Helmerich & Payne stock opened at $32.62 on Monday. The firm has a 50 day moving average price of $36.02 and a 200-day moving average price of $37.95. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a twelve month low of $31.98 and a twelve month high of $46.55. The company has a market capitalization of $3.22 billion, a P/E ratio of 9.32, a P/E/G ratio of 4.19 and a beta of 1.47.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.15. The firm had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, equities analysts predict that Helmerich & Payne will post 3.51 EPS for the current year.

Helmerich & Payne Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.07%. Helmerich & Payne’s dividend payout ratio (DPR) 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.