Helmerich & Payne, Inc. (NYSE:HP) Receives $38.75 Average Target Price from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $37.25.

A number of analysts have weighed in on HP shares. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Royal Bank of Canada dropped their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays dropped their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Argus raised shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th.

Helmerich & Payne Stock Down 1.9 %

Shares of NYSE:HP opened at $25.76 on Monday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 3.43 and a beta of 1.37. Helmerich & Payne has a 1-year low of $25.69 and a 1-year high of $44.11. The company’s fifty day moving average is $31.88 and its two-hundred day moving average is $33.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Equities analysts anticipate that Helmerich & Payne will post 2.95 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.88%. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the transaction, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares in the company, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Helmerich & Payne by 0.8% during the 3rd quarter. State Street Corp now owns 4,182,972 shares of the oil and gas company’s stock valued at $127,246,000 after purchasing an additional 34,395 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Helmerich & Payne by 1.0% during the 4th quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock valued at $111,654,000 after purchasing an additional 35,013 shares in the last quarter. ARGA Investment Management LP boosted its position in shares of Helmerich & Payne by 42.5% during the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after purchasing an additional 801,000 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Helmerich & Payne by 14.0% during the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock valued at $85,121,000 after purchasing an additional 327,374 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Helmerich & Payne by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company’s stock worth $68,373,000 after buying an additional 22,875 shares during the period. Institutional investors own 96.05% 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.