Helmerich & Payne Inc. (HP) Given Average Rating of “Hold” by Analysts
Shares of Helmerich & Payne Inc. (NYSE:HP) have been given an average rating of “Hold” by the twenty-eight research firms that are presently covering the firm. Five equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $63.22.
Several analysts recently weighed in on HP shares. FBR & Co decreased their price target on Helmerich & Payne from $66.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, July 29th. Jefferies Group increased their price target on Helmerich & Payne from $43.00 to $45.00 and gave the company an “underperform” rating in a report on Friday, July 29th. JPMorgan Chase & Co. restated a “sell” rating and set a $39.00 price target on shares of Helmerich & Payne in a report on Friday, July 29th. Credit Suisse Group AG set a $52.00 price target on Helmerich & Payne and gave the company a “sell” rating in a report on Monday, August 1st. Finally, Simmons restated a “neutral” rating and set a $50.00 price target (down previously from $54.00) on shares of Helmerich & Payne in a report on Thursday, August 4th.
Helmerich & Payne (NYSE:HP) opened at 69.12 on Thursday. The firm’s 50-day moving average price is $66.01 and its 200 day moving average price is $63.52. Helmerich & Payne has a 12 month low of $40.02 and a 12 month high of $70.39. The stock’s market cap is $7.47 billion.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 17th. The company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.09. Helmerich & Payne had a negative return on equity of 2.25% and a negative net margin of 3.50%. The company had revenue of $332 million for the quarter, compared to analyst estimates of $304.26 million. During the same quarter in the prior year, the firm posted $0.04 EPS. Helmerich & Payne’s quarterly revenue was down 40.1% compared to the same quarter last year. On average, analysts anticipate that Helmerich & Payne will post ($1.22) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Tuesday, November 8th. Helmerich & Payne’s payout ratio is -518.52%.
In related news, CEO John W. Lindsay sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was 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 $9,544,984.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 value 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. 4.23% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Helmerich & Payne by 4.2% in the first quarter. Legal & General Group Plc now owns 454,848 shares of the company’s stock valued at $26,710,000 after buying an additional 18,502 shares during the period. Envestnet Asset Management Inc. raised its stake in Helmerich & Payne by 7.0% in the first quarter. Envestnet Asset Management Inc. now owns 18,248 shares of the company’s stock valued at $1,072,000 after buying an additional 1,196 shares during the period. Eachwin Capital LP bought a new stake in Helmerich & Payne during the first quarter valued at approximately $522,000. Arizona State Retirement System raised its stake in Helmerich & Payne by 1.5% in the first quarter. Arizona State Retirement System now owns 40,594 shares of the company’s stock valued at $2,384,000 after buying an additional 600 shares during the period. Finally, Orbitronix LP bought a new stake in Helmerich & Payne during the first quarter valued at approximately $1,174,000.
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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