Helmerich & Payne, Inc. (NYSE:HP) Receives $40.29 Consensus Target Price from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $39.00.

Several research analysts recently weighed in on the company. Barclays lowered their price objective on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Citigroup decreased their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group decreased their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $33.85 on Friday. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 3.84 and a beta of 1.40. 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 52-week low of $29.46 and a 52-week high of $44.11. The company has a fifty day simple moving average of $33.48 and a 200-day simple moving average of $35.17.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd acquired a new position in shares of Helmerich & Payne during the 1st quarter worth about $1,065,000. Russell Investments Group Ltd. raised its stake in shares of Helmerich & Payne by 10.3% during the 1st quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after buying an additional 14,347 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Helmerich & Payne by 13.1% in the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock valued at $6,809,000 after purchasing an additional 21,852 shares during the period. Caxton Associates LP acquired a new stake in shares of Helmerich & Payne in the 1st quarter worth approximately $642,000. Finally, LSV Asset Management increased its position in shares of Helmerich & Payne by 37.9% in the first quarter. LSV Asset Management now owns 784,139 shares of the oil and gas company’s stock valued at $32,981,000 after buying an additional 215,339 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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.