Nomura set a $71.00 price target on Helmerich & Payne Inc. (NYSE:HP) in a research report sent to investors on Friday. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on HP. FBR & Co reduced their price target on shares of Helmerich & Payne from $66.00 to $58.00 and set a market perform rating on the stock in a research note on Friday, July 29th. Jefferies Group boosted their price target on shares of Helmerich & Payne from $43.00 to $45.00 and gave the company an underperform rating in a research note on Friday, July 29th. JPMorgan Chase & Co. reissued a sell rating and issued a $39.00 price target on shares of Helmerich & Payne in a research note on Friday, July 29th. Credit Suisse Group AG set a $52.00 price target on shares of Helmerich & Payne and gave the company a sell rating in a research note on Monday, August 1st. Finally, Simmons reaffirmed a neutral rating and set a $50.00 target price (down from $54.00) on shares of Helmerich & Payne in a research note on Thursday, August 4th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $62.95.

Shares of Helmerich & Payne (NYSE:HP) traded up 1.74% during midday trading on Friday, reaching $69.44. 296,881 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $65.90 and its 200 day moving average price is $63.39. Helmerich & Payne has a 1-year low of $40.02 and a 1-year high of $70.39. The stock’s market capitalization is $7.50 billion.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 17th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $332 million for the quarter, compared to the consensus estimate of $304.26 million. Helmerich & Payne had a negative net margin of 3.50% and a negative return on equity of 2.25%. The business’s revenue was down 40.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. On average, equities analysts predict that Helmerich & Payne will post ($1.22) earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, November 8th. This represents a $2.80 annualized dividend and a yield of 4.10%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -518.52%.

In other Helmerich & Payne news, CEO John W. Lindsay sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $67.45, for a total transaction of $1,011,750.00. Following the sale, the chief executive officer now directly owns 141,512 shares of the company’s stock, valued at approximately $9,544,984.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Bell sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $66.35, for a total transaction of $597,150.00. Following the sale, the insider now directly owns 45,666 shares in the company, valued at $3,029,939.10. The disclosure for this sale can be found here. Company insiders own 4.23% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Helmerich & Payne by 4.6% in the second quarter. Vanguard Group Inc. now owns 9,983,993 shares of the company’s stock valued at $670,225,000 after buying an additional 434,557 shares in the last quarter. Capital World Investors boosted its stake in Helmerich & Payne by 6.5% in the third quarter. Capital World Investors now owns 7,919,050 shares of the company’s stock valued at $532,952,000 after buying an additional 486,400 shares in the last quarter. American International Group Inc. boosted its stake in Helmerich & Payne by 4.8% in the third quarter. American International Group Inc. now owns 6,839,444 shares of the company’s stock valued at $460,295,000 after buying an additional 313,165 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Helmerich & Payne by 3.4% in the third quarter. BlackRock Fund Advisors now owns 5,856,725 shares of the company’s stock valued at $394,158,000 after buying an additional 191,903 shares in the last quarter. Finally, State Street Corp boosted its stake in Helmerich & Payne by 1.9% in the second quarter. State Street Corp now owns 5,443,778 shares of the company’s stock valued at $365,441,000 after buying an additional 99,961 shares in the last quarter.

About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

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