Helmerich & Payne (NYSE:HP) Price Target Cut to $17.00 by Analysts at Barclays

Helmerich & Payne (NYSE:HP) had its target price lowered by Barclays from $20.00 to $17.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the stock. Susquehanna reduced their price objective on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Citigroup restated a “neutral” rating and set a $19.00 price objective (down from $25.00) on shares of Helmerich & Payne in a research note on Monday, May 19th. JPMorgan Chase & Co. reduced their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. The Goldman Sachs Group cut their target price on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley cut their target price on shares of Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, May 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.45.

Helmerich & Payne Price Performance

HP stock opened at $17.08 on Friday. The stock has a 50-day moving average price of $18.05 and a two-hundred day moving average price of $25.21. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $42.60. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.70 billion, a PE ratio of 7.80 and a beta of 0.83.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $961.03 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. Equities analysts forecast that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 5.85%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 45.66%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC lifted its position in Helmerich & Payne by 32.1% during the first quarter. Intech Investment Management LLC now owns 90,428 shares of the oil and gas company’s stock worth $2,362,000 after acquiring an additional 21,958 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Helmerich & Payne by 34.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after acquiring an additional 54,758 shares during the last quarter. Empowered Funds LLC lifted its position in Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after acquiring an additional 852 shares during the last quarter. Caxton Associates LLP acquired a new stake in Helmerich & Payne during the first quarter worth approximately $665,000. Finally, Petrus Trust Company LTA acquired a new stake in Helmerich & Payne during the first quarter worth approximately $468,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.