Helmerich & Payne (NYSE:HP) Price Target Increased to $60.00 by Analysts at Morgan Stanley

Helmerich & Payne (NYSE:HPGet Rating) had its price target increased by Morgan Stanley from $55.00 to $60.00 in a research note issued to investors on Monday, Stock Target Advisor reports. They currently have an equal weight rating on the oil and gas company’s stock.

A number of other analysts have also recently commented on HP. Royal Bank of Canada boosted their target price on shares of Helmerich & Payne from $63.00 to $68.00 and gave the company an outperform rating in a report on Friday. Barclays lifted their price target on Helmerich & Payne to $58.00 in a research report on Tuesday, August 9th. StockNews.com initiated coverage on Helmerich & Payne in a research report on Wednesday, October 12th. They issued a hold rating for the company. Susquehanna lifted their price target on Helmerich & Payne from $62.00 to $65.00 and gave the stock a positive rating in a research report on Friday. Finally, Susquehanna Bancshares lifted their price target on Helmerich & Payne from $62.00 to $65.00 and gave the stock a positive rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of Moderate Buy and an average target price of $60.55.

Helmerich & Payne Stock Down 4.6 %

Shares of NYSE HP opened at $51.24 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.54 and a debt-to-equity ratio of 0.20. Helmerich & Payne has a 52 week low of $20.93 and a 52 week high of $54.59. The firm’s fifty day moving average is $45.06 and its 200 day moving average is $44.58. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 1,025.01 and a beta of 1.75.

Helmerich & Payne (NYSE:HPGet Rating) last released its quarterly 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. The business had revenue of $631.33 million for the quarter, compared to analysts’ expectations of $597.29 million. Helmerich & Payne had a net margin of 0.34% and a return on equity of 0.45%. The firm’s revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.62) earnings per share. On average, equities research analysts expect that Helmerich & Payne will post 3.77 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business 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 1.95%. The ex-dividend date of this dividend is Monday, November 14th. Helmerich & Payne’s dividend payout ratio is presently 2,000.40%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently modified their holdings of HP. Private Trust Co. NA grew its holdings in Helmerich & Payne by 164.1% during the 3rd quarter. Private Trust Co. NA now owns 663 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 412 shares in the last quarter. Quent Capital LLC increased its position in shares of Helmerich & Payne by 248.0% in the 2nd quarter. Quent Capital LLC now owns 682 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 486 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new stake in shares of Helmerich & Payne in the 2nd quarter valued at approximately $30,000. Hanseatic Management Services Inc. purchased a new position in shares of Helmerich & Payne in the 3rd quarter valued at $32,000. Finally, Harding Loevner LP grew its position in shares of Helmerich & Payne by 316.7% in the 1st quarter. Harding Loevner LP now owns 946 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 94.61% of the company’s stock.

About Helmerich & Payne

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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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