Helmerich & Payne (NYSE:HP) Price Target Raised to $51.00

Helmerich & Payne (NYSE:HP) had its price target hoisted by Barclays from $50.00 to $51.00 in a research report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

A number of other equities analysts also recently commented on the stock. Susquehanna increased their price objective on shares of Helmerich & Payne from $44.00 to $50.00 and gave the stock a “positive” rating in a research note on Monday, October 5th. UBS Group lifted their target price on Helmerich & Payne from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley upped their target price on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, August 20th. Citigroup upped their target price on Helmerich & Payne from $36.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Finally, Wall Street Zen raised Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and an average target price of $44.36.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $38.48 on Monday. Helmerich & Payne has a 12 month low of $22.62 and a 12 month high of $48.17. The company’s fifty day simple moving average is $41.59 and its 200-day simple moving average is $38.05. The firm has a market cap of $3.85 billion, a PE 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 released its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same period last year, the business posted $0.22 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that Helmerich & Payne will post -0.16 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a $0.25 dividend. 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%.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Momper sold 5,054 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the sale, the chief accounting officer owned 16,958 shares in the company, valued at $750,900.24. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hans Helmerich sold 94,470 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $878,000. This represents a 82.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 110,673 shares of company stock worth $4,864,590. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Aventail Capital Group LP acquired a new stake in Helmerich & Payne in the 4th quarter valued at about $5,464,000. Cadence Wealth Management LLC bought a new position in Helmerich & Payne during the second quarter worth about $1,416,000. Deutsche Bank AG bought a new position in Helmerich & Payne during the second quarter worth about $5,970,000. Corigliano Investment Advisers LLC acquired a new position in Helmerich & Payne during the fourth quarter worth approximately $8,573,000. Finally, Energy Income Partners LLC acquired a new position in Helmerich & Payne during the second quarter worth approximately $4,268,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.