Helmerich & Payne (NYSE:HP) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Helmerich & Payne (NYSE:HP – Get Rating) from a buy rating to a hold rating in a research note published on Monday.

A number of other equities research analysts also recently weighed in on HP. Benchmark started coverage on Helmerich & Payne in a report on Thursday, January 19th. They set a hold rating on the stock. Barclays dropped their price objective on Helmerich & Payne from $65.00 to $52.00 in a research note on Tuesday, May 9th. TheStreet upgraded shares of Helmerich & Payne from a c+ rating to a b rating in a research note on Monday, January 30th. Piper Sandler dropped their target price on shares of Helmerich & Payne from $65.00 to $50.00 in a research report on Monday, May 1st. Finally, Morgan Stanley lowered shares of Helmerich & Payne from an equal weight rating to an underweight rating and reduced their price target for the company from $60.00 to $45.00 in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Helmerich & Payne presently has a consensus rating of Hold and a consensus target price of $55.70.

Helmerich & Payne Price Performance

NYSE:HP opened at $31.74 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.19 and a current ratio of 2.43. The company has a 50-day moving average of $35.56 and a 200-day moving average of $43.46. Helmerich & Payne has a 52 week low of $30.41 and a 52 week high of $54.59. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 10.44 and a beta of 1.65.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 18th will be issued a $0.485 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $1.94 dividend on an annualized basis and a yield of 6.11%. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors have recently modified their holdings of HP. Blue Rock Advisors LLC bought a new position in Helmerich & Payne during the 1st quarter worth approximately $1,386,000. Gotham Asset Management LLC boosted its position in shares of Helmerich & Payne by 62.5% during the first quarter. Gotham Asset Management LLC now owns 38,599 shares of the oil and gas company’s stock worth $1,380,000 after buying an additional 14,847 shares during the period. Quarry LP bought a new position in shares of Helmerich & Payne during the first quarter worth about $43,000. Two Sigma Advisers LP raised its position in Helmerich & Payne by 5.9% in the 1st quarter. Two Sigma Advisers LP now owns 159,400 shares of the oil and gas company’s stock valued at $5,699,000 after buying an additional 8,900 shares during the last quarter. Finally, Sagefield Capital LP lifted its stake in Helmerich & Payne by 11.5% in the 1st quarter. Sagefield Capital LP now owns 181,646 shares of the oil and gas company’s stock valued at $6,494,000 after acquiring an additional 18,686 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

About Helmerich & Payne

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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.