Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $36.80

Helmerich & Payne, Inc. (NYSE:HP) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $36.80.

A number of equities analysts have issued reports on HP shares. Royal Bank Of Canada increased their price objective on Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 target price on shares of Helmerich & Payne in a report on Wednesday, January 14th. Piper Sandler upped their target price 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. JPMorgan Chase & Co. upgraded shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $24.00 to $34.00 in a research note on Wednesday, December 10th. Finally, TD Cowen lifted their price target on shares of Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, February 9th.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $36.93 on Tuesday. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $37.87. The stock’s 50 day simple moving average is $34.54 and its two-hundred day simple moving average is $29.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -11.58 and a beta of 0.54.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) 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 the consensus estimate of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm’s revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. As a group, analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -31.35%.

Insider Activity

In other news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares in the company, valued at approximately $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in HP. EverSource Wealth Advisors LLC raised its stake in Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Helmerich & Payne in the fourth quarter worth $26,000. Rothschild Investment LLC increased its holdings in shares of Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,240 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 554 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Helmerich & Payne by 184.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,187 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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.