Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $23.10

Helmerich & Payne, Inc. (NYSE:HP) has been assigned an average recommendation of “Reduce” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.10.

HP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Piper Sandler started coverage on shares of Helmerich & Payne in a research report on Monday, July 14th. They set a “neutral” rating and a $20.00 price target on the stock. Morgan Stanley reduced their price objective 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. Susquehanna decreased their price objective on Helmerich & Payne from $24.00 to $23.00 and set a “positive” rating for the company in a report on Tuesday, July 1st. Finally, Citigroup reiterated a “neutral” rating and set a $17.00 target price (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th.

Helmerich & Payne Trading Down 2.8%

Shares of HP stock opened at $15.54 on Thursday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 7.10 and a beta of 0.82. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $42.60. The firm’s fifty day simple moving average is $16.66 and its 200 day simple moving average is $22.92. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

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). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. As a group, sell-side analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Friday, August 15th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 45.66%.

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in Helmerich & Payne during the fourth quarter worth about $469,000. Raymond James Financial Inc. purchased a new stake in shares of Helmerich & Payne in the 4th quarter valued at about $2,788,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Helmerich & Payne by 14.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,306 shares of the oil and gas company’s stock valued at $810,000 after acquiring an additional 3,206 shares during the last quarter. Swiss National Bank increased its position in shares of Helmerich & Payne by 0.8% in the fourth quarter. Swiss National Bank now owns 194,300 shares of the oil and gas company’s stock worth $6,221,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Helmerich & Payne by 4.1% in the fourth quarter. Natixis Advisors LLC now owns 22,239 shares of the oil and gas company’s stock valued at $712,000 after purchasing an additional 870 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other 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.