Helmerich & Payne (NYSE:HP) Earns Buy Rating from Analysts at StockNews.com

Posted by Amy Steele on Mar 19th, 2023

StockNews.com initiated coverage on shares of Helmerich & Payne (NYSE:HP – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

Several other brokerages also recently issued reports on HP. Evercore ISI raised their price objective on shares of Helmerich & Payne to $67.00 in a research report on Monday, November 21st. ATB Capital lifted their target price on shares of Helmerich & Payne to $71.00 in a report on Monday, November 21st. TheStreet raised shares of Helmerich & Payne from a c+ rating to a b rating in a report on Monday, January 30th. Susquehanna reaffirmed a positive rating and issued a $72.00 target price on shares of Helmerich & Payne in a report on Tuesday, March 14th. Finally, Benchmark initiated coverage on shares of Helmerich & Payne in a report on Thursday, January 19th. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $60.91.

Helmerich & Payne Trading Down 2.4 %

Shares of Helmerich & Payne stock opened at $34.17 on Thursday. Helmerich & Payne has a 1 year low of $33.54 and a 1 year high of $54.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.10 and a current ratio of 2.30. The company has a market capitalization of $3.57 billion, a P/E ratio of 23.73 and a beta of 1.67. The company’s fifty day moving average is $44.58 and its two-hundred day moving average is $45.58.

Helmerich & Payne (NYSE:HP – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.30. Helmerich & Payne had a net margin of 6.56% and a return on equity of 6.43%. The company had revenue of $719.60 million for the quarter, compared to the consensus estimate of $699.92 million. During the same period last year, the firm posted ($0.45) EPS. Helmerich & Payne’s revenue for the quarter was up 75.6% on a year-over-year basis. Analysts forecast that Helmerich & Payne will post 4.77 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 18th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is Wednesday, May 17th. Helmerich & Payne’s dividend payout ratio (DPR) is 69.44%.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in HP. Private Trust Co. NA lifted its stake in shares of Helmerich & Payne by 164.1% in the third quarter. Private Trust Co. NA now owns 663 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 412 shares during the period. Rockefeller Capital Management L.P. raised its position in Helmerich & Payne by 221.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 367 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in Helmerich & Payne during the third quarter worth about $32,000. CENTRAL TRUST Co acquired a new position in Helmerich & Payne during the fourth quarter worth about $44,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Helmerich & Payne during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Helmerich & Payne

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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.