Helmerich & Payne (NYSE:HP) Given New $50.00 Price Target at Susquehanna

Helmerich & Payne (NYSE:HP) had its price objective trimmed by Susquehanna from $52.00 to $50.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

Several other analysts have also issued reports on HP. Barclays lowered Helmerich & Payne from an overweight rating to an equal weight rating and dropped their price objective for the company from $44.00 to $40.00 in a research note on Wednesday, January 10th. Piper Sandler increased their target price on Helmerich & Payne from $41.00 to $44.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Royal Bank of Canada increased their target price on Helmerich & Payne from $46.00 to $48.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. The Goldman Sachs Group lowered their target price on Helmerich & Payne from $37.00 to $33.00 and set a sell rating on the stock in a research note on Friday, January 12th. Finally, Citigroup increased their target price on Helmerich & Payne from $40.00 to $42.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $42.63.

Helmerich & Payne Stock Performance

HP opened at $40.39 on Friday. Helmerich & Payne has a 52-week low of $30.41 and a 52-week high of $46.55. The firm has a market capitalization of $3.99 billion, a PE ratio of 11.54, a PEG ratio of 1.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 2.16. The business’s 50-day simple moving average is $40.75 and its 200 day simple moving average is $38.66.

Helmerich & Payne (NYSE:HP) last released its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.24. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. Helmerich & Payne’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 earnings per share. As a group, sell-side analysts expect that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s payout ratio is 28.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Global Alpha Capital Management Ltd. lifted its stake in shares of Helmerich & Payne by 51.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 559,491 shares of the oil and gas company’s stock valued at $23,588,000 after acquiring an additional 190,400 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Helmerich & Payne by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock valued at $80,218,000 after acquiring an additional 34,863 shares during the last quarter. Gotham Asset Management LLC lifted its stake in shares of Helmerich & Payne by 92.7% in the 3rd quarter. Gotham Asset Management LLC now owns 59,596 shares of the oil and gas company’s stock valued at $2,513,000 after acquiring an additional 28,675 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Helmerich & Payne in the 3rd quarter valued at $1,053,000. Finally, Deutsche Bank AG lifted its stake in shares of Helmerich & Payne by 37.4% in the 3rd quarter. Deutsche Bank AG now owns 61,596 shares of the oil and gas company’s stock valued at $2,597,000 after acquiring an additional 16,774 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

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.