Helmerich & Payne (NYSE:HP) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

Helmerich & Payne (NYSE:HP) had its target price lowered by The Goldman Sachs Group from $32.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a sell rating on the oil and gas company’s stock.

A number of other analysts also recently commented on HP. Argus upgraded Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Evercore ISI restated an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Royal Bank of Canada decreased their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays dropped their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $27.00 price target on shares of Helmerich & Payne in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.22.

Helmerich & Payne Trading Up 4.1 %

NYSE HP opened at $19.18 on Thursday. The company has a market cap of $1.91 billion, a P/E ratio of 6.31, a P/E/G ratio of 3.52 and a beta of 1.00. Helmerich & Payne has a 12 month low of $17.82 and a 12 month high of $43.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The company has a 50-day moving average of $25.13 and a 200-day moving average of $30.80.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, equities analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.21%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of the stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the purchase, the director now directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the transaction, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently bought and sold shares of HP. Kestra Investment Management LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at approximately $27,000. Versant Capital Management Inc increased its stake in shares of Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock worth $44,000 after buying an additional 867 shares during the last quarter. Covestor Ltd increased its stake in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after buying an additional 907 shares during the last quarter. Steph & Co. acquired a new stake in Helmerich & Payne in the fourth quarter valued at $87,000. Finally, Smartleaf Asset Management LLC boosted its stake in Helmerich & Payne by 82.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 1,268 shares during 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.