Helmerich & Payne (NYSE:HP) Receives Hold Rating from Benchmark

Benchmark reissued their hold rating on shares of Helmerich & Payne (NYSE:HP) in a research note published on Thursday, Benzinga reports.

Several other brokerages have also weighed in on HP. Royal Bank of Canada increased their target price 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. Susquehanna increased their target price on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a positive rating in a research note on Monday, April 8th. Citigroup increased their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Barclays lowered shares of Helmerich & Payne from an overweight rating to an equal weight rating and lowered their target price for the stock from $44.00 to $40.00 in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a sell rating for the company in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $42.63.

Helmerich & Payne Trading Down 0.1 %

Shares of HP opened at $40.39 on Thursday. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a 12-month low of $30.41 and a 12-month high of $46.55. The firm has a 50-day moving average price of $40.75 and a 200 day moving average price of $38.69. The firm has a market capitalization of $3.99 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.93 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm had revenue of $677.00 million during the quarter, compared to analyst estimates of $661.81 million. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Helmerich & Payne’s quarterly revenue was down 6.0% on a year-over-year basis. Sell-side analysts forecast that Helmerich & Payne will post 3.59 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 dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 4.16%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC lifted its position in shares of Helmerich & Payne by 26.4% during the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 355 shares in the last quarter. Greylin Investment Management Inc lifted its stake in Helmerich & Payne by 79.7% in the first quarter. Greylin Investment Management Inc now owns 28,346 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 12,569 shares during the last quarter. Verity & Verity LLC purchased a new position in Helmerich & Payne in the first quarter worth approximately $252,000. Norden Group LLC purchased a new position in Helmerich & Payne in the first quarter worth approximately $291,000. Finally, Saxon Interests Inc. purchased a new position in Helmerich & Payne in the first quarter worth approximately $205,000. Institutional investors and hedge funds 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.