Helmerich & Payne (NYSE:HP) Price Target Lowered to $25.00 at The Goldman Sachs Group

Helmerich & Payne (NYSE:HP) had its target price decreased by The Goldman Sachs Group from $32.00 to $25.00 in a research note released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on the company. Evercore ISI restated an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays decreased their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Argus raised Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Royal Bank of Canada dropped their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Morgan Stanley restated an “underweight” rating and set a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $34.22.

Helmerich & Payne Stock Performance

NYSE HP opened at $18.38 on Thursday. The stock’s fifty day moving average is $25.39 and its two-hundred day moving average is $30.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The firm has a market capitalization of $1.83 billion, a P/E ratio of 6.04, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Helmerich & Payne has a fifty-two week low of $17.82 and a fifty-two week high of $43.41.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, research analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.44%. Helmerich & Payne’s payout ratio is currently 32.89%.

Insiders Place Their Bets

In other news, CEO John W. Lindsay purchased 20,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the purchase, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This represents a 2.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the purchase, the director now owns 54,606 shares in the company, valued at $1,478,730.48. The trade was a 216.56 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors have recently made changes to their positions in the stock. Kestra Investment Management LLC acquired a new position in Helmerich & Payne in the fourth quarter valued at $27,000. Versant Capital Management Inc increased its stake in shares of Helmerich & Payne by 104.2% during the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 867 shares during the last quarter. Covestor Ltd increased its stake in shares of Helmerich & Payne by 61.3% during the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 907 shares during the last quarter. Steph & Co. purchased a new position in shares of Helmerich & Payne during the 4th quarter worth about $87,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 1,268 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

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.