Analysts Set Helmerich & Payne, Inc. (NYSE:HP) PT at $42.88

Helmerich & Payne, Inc. (NYSE:HP) has been given a consensus rating of “Reduce” by the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $42.88.

A number of equities research analysts have recently issued reports on HP shares. Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $44.00 to $40.00 in a research note on Wednesday, January 10th. The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research note on Friday, January 12th. Finally, Susquehanna lifted their target price on shares of Helmerich & Payne from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Monday, April 8th.

Helmerich & Payne Price Performance

Shares of HP opened at $40.42 on Tuesday. The company has a market capitalization of $3.99 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.51. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $40.74 and a 200 day moving average of $38.71. Helmerich & Payne has a twelve month low of $30.41 and a twelve month high of $46.55.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is 23.87%.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Helmerich & Payne by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock valued at $187,668,000 after purchasing an additional 19,622 shares during the last quarter. Earnest Partners LLC grew its stake in Helmerich & Payne by 4.0% in the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after acquiring an additional 113,735 shares in the last quarter. Pacer Advisors Inc. grew its stake in Helmerich & Payne by 130.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after acquiring an additional 1,541,987 shares in the last quarter. Victory Capital Management Inc. grew its stake in Helmerich & Payne by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after acquiring an additional 210,321 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in Helmerich & Payne by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after acquiring an additional 34,863 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

About Helmerich & Payne

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.