Helmerich & Payne (NYSE:HP) Given New $27.00 Price Target at TD Cowen

Helmerich & Payne (NYSE:HP) had its price objective raised by TD Cowen from $26.00 to $27.00 in a research report report published on Tuesday, Marketbeat.com reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Barclays decreased their price target on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, June 20th. Piper Sandler increased their price target on Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Zacks Research upgraded Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. Finally, The Goldman Sachs Group decreased their price objective on Helmerich & Payne from $25.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $22.20.

Helmerich & Payne Trading Up 0.9%

Shares of HP opened at $17.7550 on Tuesday. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $37.46. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $16.70 and a 200-day simple moving average of $20.24. The stock has a market cap of $1.77 billion, a PE ratio of -53.80 and a beta of 0.87.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.Helmerich & Payne’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. On average, sell-side analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.6%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -303.03%.

Insider Activity

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the sale, the chief accounting officer owned 21,908 shares of the company’s stock, valued at $390,619.64. This trade represents a 23.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Helmerich & Payne by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock valued at $143,209,000 after acquiring an additional 71,168 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Helmerich & Payne by 28.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company’s stock valued at $92,809,000 after acquiring an additional 786,250 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Helmerich & Payne by 1.0% in the 4th quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock valued at $111,654,000 after acquiring an additional 35,013 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Helmerich & Payne by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 3,224,611 shares of the oil and gas company’s stock valued at $48,885,000 after acquiring an additional 240,771 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Helmerich & Payne by 9.5% in the 2nd quarter. Invesco Ltd. now owns 2,959,928 shares of the oil and gas company’s stock valued at $44,873,000 after acquiring an additional 255,794 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

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.