Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average rating of “Reduce” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.20.

HP has been the subject of a number of research reports. Barclays cut their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Friday, June 20th. JPMorgan Chase & Co. cut their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Zacks Research upgraded shares of Helmerich & Payne to a “hold” rating in a research note on Monday, August 11th. Finally, Piper Sandler raised their price target on shares of Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th.

Insider Buying and Selling

In related news, CAO Sara Marie Momper sold 6,700 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the transaction, the chief accounting officer directly owned 21,908 shares of the company’s stock, valued at approximately $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds have recently bought and sold shares of the business. Ellis Investment Partners LLC boosted its stake in shares of Helmerich & Payne by 4.5% in the 1st quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 558 shares in the last quarter. Ridgewood Investments LLC boosted its stake in shares of Helmerich & Payne by 4.4% in the 1st quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company’s stock valued at $350,000 after purchasing an additional 569 shares in the last quarter. Xponance Inc. boosted its stake in shares of Helmerich & Payne by 7.6% in the 1st quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 587 shares in the last quarter. Radnor Capital Management LLC boosted its stake in shares of Helmerich & Payne by 1.5% in the 2nd quarter. Radnor Capital Management LLC now owns 43,674 shares of the oil and gas company’s stock valued at $662,000 after purchasing an additional 630 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Helmerich & Payne by 4.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,088 shares of the oil and gas company’s stock valued at $229,000 after purchasing an additional 651 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $20.03 on Friday. The stock has a market cap of $1.99 billion, a P/E ratio of -60.70 and a beta of 0.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The company has a fifty day moving average price of $17.59 and a two-hundred day moving average price of $19.39. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.46.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The company’s revenue for the quarter was up 49.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. As a group, equities analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.0%. Helmerich & Payne’s dividend payout ratio is -303.03%.

About Helmerich & Payne

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.