Helmerich & Payne, Inc. (NYSE:HP) Receives Average Rating of “Reduce” from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has received an average recommendation of “Reduce” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.20.

A number of research analysts have issued reports on the stock. Piper Sandler boosted their target price on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Citigroup reissued a “neutral” rating and set a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Morgan Stanley reduced their target price on shares of Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, May 16th. Finally, Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th.

Helmerich & Payne Trading Up 0.2%

NYSE HP opened at $20.90 on Friday. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.46. The company has a 50-day simple moving average of $17.76 and a 200-day simple moving average of $19.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The firm has a market capitalization of $2.08 billion, a PE ratio of -63.33 and a beta of 0.95.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was up 49.2% on a year-over-year basis. On average, equities analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne’s payout ratio is presently -303.03%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the completion of the transaction, the chief accounting officer directly owned 21,908 shares of the company’s stock, valued at $390,619.64. The trade was a 23.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.51% of the stock is owned by insiders.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently made changes to their positions in HP. Tower Research Capital LLC TRC lifted its stake in shares of Helmerich & Payne by 120.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 1,932 shares during the period. Northern Trust Corp lifted its stake in shares of Helmerich & Payne by 5.1% in the 4th quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company’s stock worth $54,414,000 after acquiring an additional 82,254 shares during the period. AXA S.A. lifted its stake in shares of Helmerich & Payne by 0.9% in the 4th quarter. AXA S.A. now owns 138,821 shares of the oil and gas company’s stock worth $4,445,000 after acquiring an additional 1,205 shares during the period. Bank of America Corp DE lifted its stake in shares of Helmerich & Payne by 542.9% in the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company’s stock worth $16,748,000 after acquiring an additional 441,688 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Helmerich & Payne by 32.5% in the 4th quarter. Cetera Investment Advisers now owns 19,114 shares of the oil and gas company’s stock worth $612,000 after acquiring an additional 4,692 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

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.