Helmerich & Payne, Inc. (NYSE:HP) Stock Has Consensus Target Price of $44.18

Helmerich & Payne, Inc. (NYSE:HP) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $44.36.

Several research firms recently commented on HP. Citigroup increased their target price on shares of Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Bank of America restated a “buy” rating on shares of Helmerich & Payne in a report on Monday. Susquehanna lifted their price target on shares of Helmerich & Payne from $44.00 to $50.00 and gave the stock a “positive” rating in a research report on Monday, October 5th. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, UBS Group upped their price target on Helmerich & Payne from $49.00 to $50.00 and gave the company a “buy” rating in a report on Monday.

Insider Buying and Selling

In other news, CAO Sara Momper sold 5,054 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the sale, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cara M. Hair sold 11,149 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president directly owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 110,673 shares of company stock worth $4,864,590 in the last three months. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in shares of Helmerich & Payne in the first quarter worth about $101,000. Nykredit A S purchased a new position in shares of Helmerich & Payne in the second quarter worth approximately $112,000. Core Capital Management & Research inc. purchased a new position in shares of Helmerich & Payne in the second quarter worth approximately $196,000. Avantax Planning Partners Inc. purchased a new position in shares of Helmerich & Payne in the first quarter worth approximately $210,000. Finally, CacheTech Inc. purchased a new position in shares of Helmerich & Payne in the first quarter worth approximately $213,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 1.5%

Shares of HP stock opened at $38.48 on Friday. The stock has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $38.05. Helmerich & Payne has a fifty-two week low of $22.62 and a fifty-two week high of $48.17. The stock has a market capitalization of $3.85 billion, a P/E ratio of -27.29, a P/E/G ratio of 0.92 and a beta of 0.69. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter last year, the firm posted $0.22 earnings per share. Helmerich & Payne’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Helmerich & Payne will post -0.16 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -70.92%.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and natural gas exploration and production companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company operates and manages drilling rigs used to develop unconventional and conventional energy resources.

Its services include drilling-rig contracting, rig management, operational support, and technology solutions designed to improve drilling efficiency, safety, and well performance.