Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Recommendation of “Hold” by Analysts

Helmerich & Payne, Inc. (NYSE:HP) has received a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $26.10.

A number of equities research analysts recently weighed in on HP shares. Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “hold (c-)” rating on shares of Helmerich & Payne in a report on Thursday, November 20th. Citigroup raised their target price on Helmerich & Payne from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI lifted their target price on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, November 19th. Finally, TD Cowen increased their price target on Helmerich & Payne from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Tuesday, August 19th.

Helmerich & Payne Price Performance

Shares of HP opened at $27.60 on Wednesday. The business’s fifty day moving average is $24.52 and its 200 day moving average is $19.94. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $37.30. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.74 billion, a P/E ratio of -83.62 and a beta of 0.94.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $972.79 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s quarterly revenue was up 45.8% on a year-over-year basis. Sell-side analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Helmerich & Payne’s dividend payout ratio is currently -59.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HP. CWM LLC increased its stake in Helmerich & Payne by 37.8% in the 1st quarter. CWM LLC now owns 5,671 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 1,555 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Helmerich & Payne by 17.6% in the first quarter. Allianz Asset Management GmbH now owns 99,353 shares of the oil and gas company’s stock valued at $2,595,000 after acquiring an additional 14,885 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $626,000. Cadence Wealth Management LLC lifted its holdings in Helmerich & Payne by 152.3% during the first quarter. Cadence Wealth Management LLC now owns 22,141 shares of the oil and gas company’s stock worth $578,000 after acquiring an additional 13,364 shares during the period. Finally, Cetera Investment Advisers boosted its position in Helmerich & Payne by 20.0% in the first quarter. Cetera Investment Advisers now owns 22,928 shares of the oil and gas company’s stock worth $599,000 after purchasing an additional 3,814 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.