Helmerich & Payne, Inc. (NYSE:HP) Receives $42.25 Consensus Price Target from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HPGet Free Report) have earned a consensus rating of “Reduce” from the ten ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $42.25.

Several analysts recently commented on the company. Barclays cut Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Atb Cap Markets downgraded shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 16th. Piper Sandler lowered shares of Helmerich & Payne from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $47.00 to $41.00 in a research report on Monday, January 8th. The Goldman Sachs Group dropped their price objective on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Friday, January 12th. Finally, Benchmark lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th.

Read Our Latest Stock Report on HP

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oxford Asset Management LLP purchased a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $316,000. Franklin Resources Inc. increased its holdings in Helmerich & Payne by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 157,710 shares of the oil and gas company’s stock valued at $5,712,000 after purchasing an additional 1,440 shares during the last quarter. Quest Partners LLC purchased a new stake in Helmerich & Payne in the fourth quarter valued at approximately $1,307,000. Trexquant Investment LP raised its position in Helmerich & Payne by 97.3% in the fourth quarter. Trexquant Investment LP now owns 145,087 shares of the oil and gas company’s stock valued at $5,255,000 after purchasing an additional 71,552 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in Helmerich & Payne by 27.3% during the fourth quarter. Corient Private Wealth LLC now owns 19,015 shares of the oil and gas company’s stock worth $689,000 after purchasing an additional 4,075 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 0.3 %

Shares of HP stock opened at $38.06 on Thursday. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.84. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 8.43 and a beta of 1.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a 50 day simple moving average of $36.10 and a 200-day simple moving average of $39.46.

Helmerich & Payne (NYSE:HPGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 earnings per share. On average, equities research analysts expect that Helmerich & Payne will post 3.4 EPS for the current fiscal year.

Helmerich & Payne Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be issued a $0.42 dividend. The ex-dividend date is Monday, February 12th. This is a boost from Helmerich & Payne’s previous quarterly dividend of $0.25. This represents a $1.68 dividend on an annualized basis and a yield of 4.41%. Helmerich & Payne’s dividend payout ratio is currently 23.87%.

Helmerich & Payne Company Profile

(Get Free Report

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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