Piper Sandler Boosts Helmerich & Payne (NYSE:HP) Price Target to $65.00

Helmerich & Payne (NYSE:HPGet Rating) had its price objective boosted by Piper Sandler from $61.00 to $65.00 in a research note published on Friday morning, The Fly reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on the company. Barclays boosted their target price on Helmerich & Payne to $58.00 in a report on Tuesday, August 9th. Morgan Stanley raised Helmerich & Payne from an underweight rating to an equal weight rating and upped their price objective for the company from $48.00 to $55.00 in a research note on Monday, September 26th. TheStreet raised Helmerich & Payne from a c rating to a b- rating in a research note on Wednesday, November 16th. Finally, StockNews.com started coverage on Helmerich & Payne in a research note on Wednesday, October 12th. They set a hold rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $57.33.

Helmerich & Payne Stock Up 3.2 %

Helmerich & Payne stock opened at $53.70 on Friday. Helmerich & Payne has a fifty-two week low of $20.93 and a fifty-two week high of $54.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.14 and a current ratio of 2.54. The company has a market capitalization of $5.65 billion, a P/E ratio of 1,074.21 and a beta of 1.75. The stock has a 50-day simple moving average of $44.97 and a 200-day simple moving average of $44.56.

Helmerich & Payne (NYSE:HPGet Rating) last posted its earnings results on Thursday, November 17th. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. The business had revenue of $631.33 million during the quarter, compared to the consensus estimate of $597.29 million. During the same period in the previous year, the business earned ($0.62) EPS. The business’s quarterly revenue was up 83.6% on a year-over-year basis. Equities research analysts expect that Helmerich & Payne will post 3.77 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, November 14th. Helmerich & Payne’s payout ratio is 2,000.40%.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total transaction of $215,700.00. Following the transaction, the senior vice president now owns 117,395 shares in the company, valued at approximately $5,869,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Raymond John Adams III sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total value of $71,250.00. Following the sale, the senior vice president now owns 52,935 shares in the company, valued at approximately $2,514,412.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John R. Bell sold 4,314 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the sale, the senior vice president now owns 117,395 shares in the company, valued at approximately $5,869,750. The disclosure for this sale can be found here. 4.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in shares of Helmerich & Payne by 5.8% in the 3rd quarter. Captrust Financial Advisors now owns 13,630 shares of the oil and gas company’s stock worth $504,000 after acquiring an additional 753 shares during the period. Balyasny Asset Management LLC grew its holdings in Helmerich & Payne by 32.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 116,841 shares of the oil and gas company’s stock valued at $4,320,000 after buying an additional 28,309 shares during the last quarter. Mather Group LLC. acquired a new stake in Helmerich & Payne during the 3rd quarter valued at $351,000. United Services Automobile Association grew its holdings in Helmerich & Payne by 1.8% during the 3rd quarter. United Services Automobile Association now owns 11,486 shares of the oil and gas company’s stock valued at $425,000 after buying an additional 198 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Helmerich & Payne by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,183,029 shares of the oil and gas company’s stock valued at $43,736,000 after buying an additional 77,230 shares during the last quarter. Institutional investors and hedge funds own 94.61% of the company’s stock.

Helmerich & Payne Company Profile

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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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