Helmerich & Payne (NYSE:HP) Shares Gap Up After Analyst Upgrade

Helmerich & Payne, Inc. (NYSE:HPGet Rating) gapped up prior to trading on Tuesday after Evercore ISI raised their price target on the stock to $67.00. The stock had previously closed at $51.24, but opened at $52.93. Helmerich & Payne shares last traded at $52.97, with a volume of 5,932 shares.

Several other analysts have also recently issued reports on the company. Susquehanna raised their target price on Helmerich & Payne from $62.00 to $65.00 and gave the stock a “positive” rating in a research note on Friday, November 18th. Piper Sandler raised their target price on Helmerich & Payne from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Barclays raised their target price on Helmerich & Payne to $65.00 in a research note on Monday. Morgan Stanley lifted their price objective on Helmerich & Payne from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Susquehanna Bancshares lifted their price objective on Helmerich & Payne from $62.00 to $65.00 and gave the company a “positive” rating in a research report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.55.

Insider Transactions at Helmerich & Payne

In other 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 value of $215,700.00. Following the sale, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at approximately $5,869,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 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 value of $215,700.00. Following the sale, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at approximately $5,869,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Raymond John Adams III sold 1,500 shares of the business’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 transaction of $71,250.00. Following the completion of the transaction, the senior vice president now owns 52,935 shares of the company’s stock, valued at $2,514,412.50. The disclosure for this sale can be found here. Insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently added to or reduced their stakes in HP. Private Trust Co. NA raised its stake 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 valued at $25,000 after buying an additional 412 shares during the last quarter. Quent Capital LLC raised its stake in Helmerich & Payne by 248.0% during the 2nd quarter. Quent Capital LLC now owns 682 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 486 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new stake in Helmerich & Payne during the 2nd quarter valued at $30,000. Hanseatic Management Services Inc. purchased a new stake in Helmerich & Payne during the 3rd quarter valued at $32,000. Finally, Harding Loevner LP raised its stake in Helmerich & Payne by 316.7% during 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. 94.61% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

The firm has a market capitalization of $5.68 billion, a PE ratio of 1,078.02 and a beta of 1.75. The company has a current ratio of 2.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $45.25 and its two-hundred day simple moving average is $44.62.

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

Helmerich & Payne Announces Dividend

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

Helmerich & Payne Company Profile

(Get Rating)

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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