Analysts Set Helmerich & Payne, Inc. (HP) Target Price at $57.10
Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given a consensus rating of “Hold” by the twenty-six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $57.10.
Several research analysts have recently commented on HP shares. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Friday, May 26th. Jefferies Group LLC set a $54.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research note on Tuesday, June 6th. BidaskClub raised Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Morgan Stanley downgraded Helmerich & Payne from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $85.00 to $56.00 in a research note on Wednesday, June 21st. Finally, Seaport Global Securities downgraded Helmerich & Payne from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $54.00 to $44.00 in a research note on Wednesday, June 21st.
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In other news, CEO John W. Lindsay purchased 5,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was acquired at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the acquisition, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Helmerich & Payne by 4.5% in the 2nd quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock worth $622,721,000 after purchasing an additional 492,673 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Helmerich & Payne by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock worth $582,248,000 after purchasing an additional 205,883 shares during the period. State Street Corp boosted its holdings in shares of Helmerich & Payne by 2.7% in the 2nd quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock worth $350,901,000 after purchasing an additional 172,819 shares during the period. Capital International Investors boosted its holdings in shares of Helmerich & Payne by 33.5% in the 2nd quarter. Capital International Investors now owns 5,849,715 shares of the oil and gas company’s stock worth $317,874,000 after purchasing an additional 1,466,700 shares during the period. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Helmerich & Payne by 68.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after purchasing an additional 1,590,793 shares during the period.
Helmerich & Payne (HP) traded up 1.15% on Wednesday, reaching $51.01. The company’s stock had a trading volume of 1,060,300 shares. The stock’s market cap is $5.54 billion. Helmerich & Payne has a one year low of $42.16 and a one year high of $85.78. The stock has a 50-day moving average of $46.08 and a 200-day moving average of $56.06.
Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The company had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. Helmerich & Payne’s revenue was up 36.0% on a year-over-year basis. On average, analysts predict that Helmerich & Payne will post ($1.30) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 5.49%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is presently -167.66%.
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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