Helmerich & Payne, Inc. (NYSE:HP) Stock Has Consensus Target Price of $44.18 According to Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given an average recommendation of “Hold” by the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $44.36.

Several research firms have commented on HP. UBS Group upped their price objective on shares of Helmerich & Payne from $49.00 to $50.00 and gave the company a “buy” rating in a report on Monday. Barclays lifted their target price on shares of Helmerich & Payne from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank Of Canada boosted their price target on shares of Helmerich & Payne from $44.00 to $49.00 and gave the company a “sector perform” rating in a research report on Thursday, September 10th. Citigroup boosted their price target on shares of Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the sale, the senior vice president owned 136,095 shares in the company, valued at $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hans Helmerich sold 94,470 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $878,000. The trade was a 82.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 110,673 shares of company stock worth $4,864,590. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Helmerich & Payne in the 2nd quarter worth about $513,336,000. Dimensional Fund Advisors LP grew its holdings in Helmerich & Payne by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock valued at $206,660,000 after buying an additional 570,500 shares in the last quarter. Encompass Capital Advisors LLC grew its holdings in Helmerich & Payne by 165.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after buying an additional 1,296,537 shares in the last quarter. Bank of America Corp DE increased its position in shares of Helmerich & Payne by 109.2% during the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock valued at $60,392,000 after buying an additional 874,823 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in shares of Helmerich & Payne by 217.4% during the second quarter. Alyeska Investment Group L.P. now owns 1,526,707 shares of the oil and gas company’s stock valued at $49,984,000 after buying an additional 1,045,727 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 3.0%

HP stock opened at $38.66 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -27.42, a PEG ratio of 1.13 and a beta of 0.69. Helmerich & Payne has a fifty-two week low of $21.76 and a fifty-two week high of $48.17. The stock has a fifty day moving average of $41.40 and a 200-day moving average of $38.02.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that Helmerich & Payne will post -0.18 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, November 18th. Helmerich & Payne’s payout ratio is currently -70.92%.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and natural gas exploration and production companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company operates and manages drilling rigs used to develop unconventional and conventional energy resources.

Its services include drilling-rig contracting, rig management, operational support, and technology solutions designed to improve drilling efficiency, safety, and well performance.