Helmerich & Payne (NYSE:HP) Price Target Cut to $39.00 by Analysts at Piper Sandler

Helmerich & Payne (NYSE:HP) had its price objective cut by Piper Sandler from $44.00 to $39.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research analysts have also weighed in on HP. Benchmark reiterated a hold rating on shares of Helmerich & Payne in a report on Thursday, April 25th. The Goldman Sachs Group decreased their price objective on Helmerich & Payne from $37.00 to $33.00 and set a sell rating for the company in a report on Friday, January 12th. Susquehanna cut their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a positive rating on the stock in a report on Friday, April 26th. 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 report on Wednesday, January 31st. Finally, Citigroup upped their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $42.00.

Helmerich & Payne Stock Performance

Shares of NYSE:HP traded up $0.33 during trading on Monday, hitting $38.78. 30,460 shares of the company traded hands, compared to its average volume of 1,286,102. Helmerich & Payne has a one year low of $30.41 and a one year high of $46.55. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.85 and a beta of 1.51. The business’s fifty day moving average is $40.78 and its 200-day moving average is $38.48. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The firm had revenue of $687.94 million during the quarter, compared to analyst estimates of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 EPS. As a group, equities analysts predict that Helmerich & Payne will post 3.56 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given 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 4.33%. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Insider Buying and Selling

In related news, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the completion of the sale, the chief financial officer now owns 144,870 shares of the company’s stock, valued at approximately $5,865,786.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the sale, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

Large investors have recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $35,000. Hexagon Capital Partners LLC lifted its stake in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares during the period. Whittier Trust Co. boosted its holdings in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 595 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Helmerich & Payne in the fourth quarter valued at $60,000. Finally, Lindbrook Capital LLC increased its stake in shares of Helmerich & Payne by 26.4% in the 1st quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 355 shares during the period. 96.05% of the stock is currently owned by 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.