Helmerich & Payne, Inc. (NYSE:HP) Receives $28.80 Average PT from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $29.10.

HP has been the subject of several research reports. The Goldman Sachs Group raised Helmerich & Payne from a “sell” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $28.00 in a research report on Thursday, November 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday. Evercore ISI upped their target price on shares of Helmerich & Payne from $20.00 to $27.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 19th. Susquehanna increased their target price on shares of Helmerich & Payne from $26.00 to $31.00 and gave the stock a “positive” rating in a report on Wednesday, November 19th. Finally, Barclays raised their price target on shares of Helmerich & Payne from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Helmerich & Payne by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock valued at $143,209,000 after buying an additional 71,168 shares during the period. American Century Companies Inc. raised its holdings in Helmerich & Payne by 7.7% in the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock valued at $76,741,000 after acquiring an additional 249,425 shares in the last quarter. Invesco Ltd. lifted its stake in Helmerich & Payne by 1.5% in the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock worth $66,338,000 after acquiring an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in Helmerich & Payne by 4.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock worth $47,102,000 after acquiring an additional 87,882 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Helmerich & Payne by 22.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock worth $26,083,000 after acquiring an additional 321,004 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP opened at $27.36 on Friday. The firm has a 50-day simple moving average of $26.59 and a two-hundred day simple moving average of $21.26. The stock has a market cap of $2.69 billion, a PE ratio of -16.38 and a beta of 0.56. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $37.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.80 and a quick ratio of 1.40.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.27). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.The company’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, analysts forecast that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s payout ratio is presently -59.88%.

About Helmerich & Payne

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.