Brokerages Set Helmerich & Payne, Inc. (NYSE:HP) PT at $42.88

Helmerich & Payne, Inc. (NYSE:HP) has been given a consensus recommendation of “Reduce” by the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $42.63.

Several brokerages have commented on HP. Citigroup upped their price target on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Susquehanna reduced their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday. Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group decreased their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th.

Helmerich & Payne Price Performance

HP opened at $40.82 on Tuesday. Helmerich & Payne has a 1 year low of $30.41 and a 1 year high of $46.55. The company’s 50 day simple moving average is $40.78 and its 200 day simple moving average is $38.65. The stock has a market capitalization of $4.03 billion, a PE ratio of 11.66, a P/E/G ratio of 1.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The company had revenue of $687.94 million during the quarter, compared to analyst estimates of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. As a group, sell-side analysts expect that Helmerich & Payne will post 3.59 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC lifted its position in shares of Helmerich & Payne by 2.5% in the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after buying an additional 308 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in Helmerich & Payne by 5.8% in the fourth quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $230,000 after acquiring an additional 346 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Helmerich & Payne by 26.4% in the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 355 shares during the period. Marathon Capital Management grew its holdings in shares of Helmerich & Payne by 0.4% during the fourth quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after purchasing an additional 409 shares during the last quarter. Finally, Savant Capital LLC raised its position in shares of Helmerich & Payne by 3.0% during the 4th quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock worth $539,000 after purchasing an additional 438 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.