Barclays Cuts Helmerich & Payne (NYSE:HP) Price Target to $20.00

Helmerich & Payne (NYSE:HP) had its price objective decreased by Barclays from $24.00 to $20.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other brokerages have also issued reports on HP. Evercore ISI reissued an “in-line” rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Susquehanna lowered their price target on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a report on Monday, April 14th. TD Cowen dropped their price target on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday, May 9th. Finally, Citigroup cut their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $29.40.

Helmerich & Payne Trading Down 1.9%

NYSE:HP opened at $17.82 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a 1-year low of $17.49 and a 1-year high of $42.60. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 3.52 and a beta of 0.93. The business’s 50-day moving average price is $21.53 and its two-hundred day moving average price is $28.34.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s revenue was up 47.7% on a year-over-year basis. On average, equities analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 45.66%.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in HP. Balyasny Asset Management L.P. acquired a new position in Helmerich & Payne during the fourth quarter worth $28,708,000. ARGA Investment Management LP boosted its stake in shares of Helmerich & Payne by 42.5% during the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after buying an additional 801,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Helmerich & Payne by 28.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company’s stock worth $92,809,000 after buying an additional 786,250 shares during the last quarter. Norges Bank bought a new position in shares of Helmerich & Payne in the 4th quarter valued at about $21,572,000. Finally, Invesco Ltd. increased its position in shares of Helmerich & Payne by 24.7% in the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company’s stock valued at $70,632,000 after acquiring an additional 535,808 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Company Profile

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.