Helmerich & Payne, Inc. (NYSE:HP) Receives Average Recommendation of “Reduce” from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has earned a consensus rating of “Reduce” from the ten research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $42.88.

Several equities analysts have recently issued reports on HP shares. Piper Sandler boosted their target price on Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Susquehanna increased their target price on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Monday, April 8th. Benchmark lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Citigroup raised their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada boosted their target price on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st.

Institutional Trading of Helmerich & Payne

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in Helmerich & Payne in the fourth quarter valued at approximately $35,000. Hexagon Capital Partners LLC raised its position in shares of 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 buying an additional 787 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of Helmerich & Payne in the fourth quarter worth $60,000. GAMMA Investing LLC acquired a new position in Helmerich & Payne during the fourth quarter valued at approximately $73,000. Finally, Neo Ivy Capital Management acquired a new position in Helmerich & Payne during the fourth quarter worth about $176,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

HP opened at $41.25 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. The company’s 50 day simple moving average is $40.48 and its 200-day simple moving average is $38.65. Helmerich & Payne has a one year low of $30.41 and a one year high of $46.55. The stock has a market capitalization of $4.08 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last announced 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. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. Helmerich & Payne’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. Sell-side analysts anticipate that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.42 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.68 annualized dividend and a yield of 4.07%. Helmerich & Payne’s payout ratio is currently 23.87%.

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.