Helmerich & Payne, Inc. (NYSE:HP) Receives $39.80 Consensus Target Price from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $39.80.

Several analysts recently commented on the company. Piper Sandler lifted their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. The Goldman Sachs Group increased their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Citigroup dropped their target price on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Susquehanna cut their price target on Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada upped their price target on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th.

Helmerich & Payne Stock Down 0.2%

HP opened at $34.52 on Monday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -9.11 and a beta of 0.61. The firm has a 50 day moving average price of $35.33 and a 200-day moving average price of $35.53. Helmerich & Payne has a twelve month low of $15.17 and a twelve month high of $41.82. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $945.60 million. During the same quarter in the prior year, the business posted $0.01 EPS. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Helmerich & Payne will post -0.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Grant Private Wealth Management Inc lifted its position in Helmerich & Payne by 39.6% during the second quarter. Grant Private Wealth Management Inc now owns 9,925 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 2,815 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in Helmerich & Payne in the first quarter worth about $225,000. Cozad Asset Management Inc. increased its position in Helmerich & Payne by 19.8% in the first quarter. Cozad Asset Management Inc. now owns 59,435 shares of the oil and gas company’s stock worth $2,141,000 after buying an additional 9,839 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Helmerich & Payne by 109.2% in the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock worth $60,392,000 after buying an additional 874,823 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of Helmerich & Payne in the first quarter worth about $319,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.