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

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.40.

Several analysts have commented on HP shares. Susquehanna lifted their target price on shares of Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Piper Sandler raised 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. Barclays lifted their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Friday, March 20th. Finally, Morgan Stanley raised their price target on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Thursday, May 14th.

Helmerich & Payne Price Performance

NYSE:HP opened at $30.80 on Thursday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -8.13 and a beta of 0.60. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $37.85 and its two-hundred day moving average is $34.85. Helmerich & Payne has a 12-month low of $15.17 and a 12-month high of $41.82.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The firm had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. Research analysts expect that Helmerich & Payne will post -0.02 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. Helmerich & Payne’s dividend payout ratio is currently -26.39%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. Leonteq Securities AG acquired a new position in Helmerich & Payne during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 1,582 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 445 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Helmerich & Payne during the 1st quarter valued at $101,000. 96.05% of the stock is owned by institutional investors and hedge funds.

About Helmerich & Payne

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.