Citigroup Boosts Helmerich & Payne (NYSE:HP) Price Target to $42.00

Helmerich & Payne (NYSE:HP) had its target price upped by Citigroup from $40.00 to $42.00 in a research report released on Tuesday, Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada raised their price target on Helmerich & Payne from $46.00 to $48.00 and gave the stock a sector perform rating in a research report on Wednesday, January 31st. Susquehanna raised their price target on Helmerich & Payne from $50.00 to $52.00 and gave the stock a positive rating in a research report on Monday, April 8th. Barclays downgraded Helmerich & Payne from an overweight rating to an equal weight rating and dropped their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $44.00 and gave the stock a neutral rating in a research report on Tuesday, February 20th. Finally, Benchmark downgraded Helmerich & Payne from a buy rating to a hold rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $42.88.

Helmerich & Payne Stock Performance

NYSE HP opened at $41.17 on Tuesday. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55. The company has a market capitalization of $4.07 billion, a P/E ratio of 9.83, a PEG ratio of 1.96 and a beta of 1.51. The business has a 50 day moving average price of $40.33 and a 200 day moving average price of $38.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. During the same period last year, the business posted $1.11 EPS. Helmerich & Payne’s quarterly revenue was down 6.0% on a year-over-year basis. Sell-side analysts expect that Helmerich & Payne will post 3.61 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is currently 23.87%.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Saxon Interests Inc. acquired a new position in Helmerich & Payne in the first quarter valued at $205,000. AlphaMark Advisors LLC boosted its holdings in Helmerich & Payne by 32.6% in the first quarter. AlphaMark Advisors LLC now owns 8,407 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 2,068 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 787 shares during the last quarter. First Dallas Securities Inc. boosted its holdings in Helmerich & Payne by 11.1% in the first quarter. First Dallas Securities Inc. now owns 9,059 shares of the oil and gas company’s stock valued at $381,000 after acquiring an additional 902 shares during the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Helmerich & Payne by 55.4% in the first quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock valued at $57,988,000 after acquiring an additional 491,589 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.