Helmerich & Payne, Inc. (NYSE:HP) Receives $36.20 Consensus Price Target from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $36.20.

HP has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Wall Street Zen downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Barclays boosted their target price on shares of Helmerich & Payne from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of Helmerich & Payne stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the sale, the director directly owned 496,735 shares in the company, valued at $13,968,188.20. The trade was a 13.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HP. Allianz Asset Management GmbH raised its stake in Helmerich & Payne by 234.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock valued at $8,470,000 after acquiring an additional 268,882 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Helmerich & Payne by 61.5% during the third quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock valued at $2,606,000 after purchasing an additional 44,906 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Helmerich & Payne by 398.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 37,626 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Helmerich & Payne in the second quarter worth about $174,000. Finally, Y Intercept Hong Kong Ltd grew its position in Helmerich & Payne by 255.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 85,169 shares of the oil and gas company’s stock valued at $1,291,000 after buying an additional 61,194 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 1.6%

Shares of HP opened at $35.14 on Friday. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $36.73. The company’s fifty day moving average is $32.42 and its two-hundred day moving average is $27.05. The firm has a market cap of $3.51 billion, a PE ratio of -11.02 and a beta of 0.54. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The company’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. Analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio is currently -31.35%.

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.