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

Helmerich & Payne (NYSE:HP) had its price objective decreased by Barclays from $42.00 to $39.00 in a report published on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

HP has been the topic of several other research reports. Citigroup lowered their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Piper Sandler lowered their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Finally, Bank of America lowered their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.75.

Helmerich & Payne Trading Up 1.8 %

Shares of Helmerich & Payne stock opened at $34.67 on Wednesday. The business has a fifty day simple moving average of $32.81 and a two-hundred day simple moving average of $36.25. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.80. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 3.80 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. During the same quarter last year, the firm posted $1.09 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Helmerich & Payne will post 3.48 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s payout ratio is currently 28.57%.

Institutional Trading of Helmerich & Payne

Several large investors have recently bought and sold shares of the business. AlphaMark Advisors LLC boosted its stake in Helmerich & Payne by 13.1% in the third quarter. AlphaMark Advisors LLC now owns 9,086 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 1,055 shares in the last quarter. Fruth Investment Management boosted its stake in Helmerich & Payne by 6.3% in the third quarter. Fruth Investment Management now owns 13,425 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 800 shares in the last quarter. Creative Planning boosted its stake in Helmerich & Payne by 13.3% in the third quarter. Creative Planning now owns 23,656 shares of the oil and gas company’s stock valued at $720,000 after buying an additional 2,774 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Helmerich & Payne by 38.9% in the third quarter. Exchange Traded Concepts LLC now owns 31,803 shares of the oil and gas company’s stock valued at $967,000 after buying an additional 8,907 shares in the last quarter. Finally, BWM Planning LLC acquired a new stake in Helmerich & Payne in the third quarter valued at about $1,291,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.