Helmerich & Payne (NYSE:HP) Price Target Raised to $42.00 at Susquehanna

Helmerich & Payne (NYSE:HP) had its price objective boosted by Susquehanna from $40.00 to $42.00 in a report released on Tuesday morning,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 target price on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Citigroup boosted their target price on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Piper Sandler boosted their target price on shares of Helmerich & Payne from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $35.81 on Tuesday. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $37.87. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $34.97 and its 200 day simple moving average is $29.99. The firm has a market capitalization of $3.58 billion, a PE ratio of -11.23 and a beta of 0.55.

Helmerich & Payne (NYSE:HP) last announced 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). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. During the same period in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, equities research analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders 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 2.8%. Helmerich & Payne’s dividend payout ratio is currently -31.35%.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of the company’s stock in a transaction dated 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 owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This represents a 25.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HP. Royal Bank of Canada increased its stake in shares of Helmerich & Payne by 4.4% during 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 acquiring an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Helmerich & Payne by 6.6% during the 1st 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 acquiring an additional 3,611 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Helmerich & Payne by 39,685.1% during the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after acquiring an additional 34,526 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 852 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock valued at $5,575,000 after acquiring an additional 54,758 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.