Helmerich & Payne (NYSE:HP) Price Target Raised to $35.00 at TD Cowen

Helmerich & Payne (NYSE:HP) had its price target increased by TD Cowen from $33.00 to $35.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on the company. Evercore ISI upped their price objective on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a report on Wednesday, November 19th. Barclays upped their price target on Helmerich & Payne from $29.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Citigroup lifted their price objective on shares of Helmerich & Payne from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Wall Street Zen downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Finally, Royal Bank Of Canada increased their target price on shares of Helmerich & Payne from $27.00 to $29.00 and gave the stock a “sector perform” rating in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $31.90.

Helmerich & Payne Trading Down 2.2%

HP opened at $30.37 on Wednesday. The firm has a 50 day simple moving average of $28.15 and a 200 day simple moving average of $22.51. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $37.30. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -18.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.80 and a quick ratio of 1.40.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $972.79 million. Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. Helmerich & Payne’s revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. On average, sell-side analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. Helmerich & Payne’s dividend payout ratio is currently -59.88%.

Insider Buying and Selling

In related news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the sale, the director directly owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. The trade was a 13.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock valued at $2,721,000 after buying an additional 4,394 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Helmerich & Payne by 147.4% in the first quarter. AQR Capital Management LLC now owns 254,119 shares of the oil and gas company’s stock valued at $6,638,000 after purchasing an additional 151,413 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Helmerich & Payne by 26.0% in the first quarter. Alliancebernstein L.P. now owns 661,899 shares of the oil and gas company’s stock worth $17,289,000 after purchasing an additional 136,499 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Helmerich & Payne during the first quarter worth $1,482,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Helmerich & Payne by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock valued at $1,531,000 after purchasing an additional 3,611 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.