Morgan Stanley Increases Helmerich & Payne (NYSE:HP) Price Target to $32.00

Helmerich & Payne (NYSE:HP) had its price target boosted by Morgan Stanley from $30.00 to $32.00 in a research report report published on Monday morning, PriceTargets.com reports. They currently have an equal weight rating on the oil and gas company’s stock.

Several other equities analysts have also issued reports on HP. Citigroup boosted their target price on Helmerich & Payne from $29.00 to $30.00 and gave the stock a neutral rating in a research report on Wednesday, October 6th. Seaport Global Securities began coverage on Helmerich & Payne in a research report on Thursday, July 15th. They issued a neutral rating and a $30.16 price objective for the company. Royal Bank of Canada reiterated an outperform rating and issued a $35.00 price objective on shares of Helmerich & Payne in a research report on Thursday, September 9th. Seaport Res Ptn reiterated a neutral rating on shares of Helmerich & Payne in a research report on Thursday, July 15th. Finally, Evercore ISI upgraded Helmerich & Payne to a buy rating and set a $42.00 price objective for the company in a research report on Friday, July 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $27.71.

Helmerich & Payne stock opened at $31.45 on Monday. The firm has a market capitalization of $3.39 billion, a P/E ratio of -11.00 and a beta of 2.27. Helmerich & Payne has a 1 year low of $13.70 and a 1 year high of $36.26. The business has a 50-day moving average of $27.41 and a 200-day moving average of $28.75. The company has a current ratio of 3.71, a quick ratio of 3.37 and a debt-to-equity ratio of 0.16.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, July 28th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.57). The company had revenue of $332.21 million during the quarter, compared to analyst estimates of $322.76 million. Helmerich & Payne had a negative return on equity of 9.21% and a negative net margin of 28.25%. During the same period in the previous year, the company earned ($0.34) EPS. Research analysts anticipate that Helmerich & Payne will post -2.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Tuesday, November 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, November 22nd. Helmerich & Payne’s dividend payout ratio is currently -116.28%.

Several institutional investors have recently made changes to their positions in the company. Stephens Inc. AR raised its stake in shares of Helmerich & Payne by 2.6% during the 2nd quarter. Stephens Inc. AR now owns 20,817 shares of the oil and gas company’s stock worth $679,000 after purchasing an additional 524 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Helmerich & Payne by 6.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 14,404 shares of the oil and gas company’s stock worth $388,000 after purchasing an additional 877 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Helmerich & Payne by 4.7% during the 1st quarter. HighTower Advisors LLC now owns 19,951 shares of the oil and gas company’s stock worth $533,000 after purchasing an additional 887 shares in the last quarter. Bbva USA bought a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $34,000. Institutional investors own 90.44% 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.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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