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

Helmerich & Payne, Inc. (NYSE:HP) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $39.50.

Several research analysts have recently weighed in on HP shares. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays lowered their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Evercore ISI reissued an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Finally, Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 643 shares during the last quarter. Blue Trust Inc. lifted its stake in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 854 shares during the last quarter. Quarry LP acquired a new stake in Helmerich & Payne in the third quarter valued at approximately $48,000. Eastern Bank acquired a new stake in Helmerich & Payne in the third quarter valued at approximately $61,000. Finally, Steph & Co. acquired a new stake in Helmerich & Payne in the fourth quarter valued at approximately $87,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $35.65 on Thursday. The stock has a fifty day moving average price of $33.68 and a two-hundred day moving average price of $34.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The firm has a market cap of $3.52 billion, a P/E ratio of 10.36, a PEG ratio of 4.54 and a beta of 1.39. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. Helmerich & Payne’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. Research analysts forecast that Helmerich & Payne will post 3.06 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.81%. Helmerich & Payne’s payout ratio is 29.07%.

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.