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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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