Susquehanna Cuts Helmerich & Payne (NYSE:HP) Price Target to $50.00

Helmerich & Payne (NYSE:HP) had its price target cut by Susquehanna from $52.00 to $50.00 in a research note published on Friday, Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

A number of other research firms have also recently weighed in on HP. The Goldman Sachs Group decreased their price target on Helmerich & Payne from $37.00 to $33.00 and set a sell rating for the company in a report on Friday, January 12th. Benchmark restated a hold rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Piper Sandler lifted their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Royal Bank of Canada upped their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a sector perform rating in a research report on Wednesday, January 31st. Finally, Barclays downgraded 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $42.63.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $40.82 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The company has a market cap of $4.03 billion, a PE ratio of 11.66, a P/E/G ratio of 1.93 and a beta of 1.51. The company’s fifty day simple moving average is $40.78 and its 200-day simple moving average is $38.65. Helmerich & Payne has a 52 week low of $30.41 and a 52 week high of $46.55.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. During the same period last year, the business earned $1.26 earnings per share. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Helmerich & Payne will post 3.59 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 4.12%. Helmerich & Payne’s payout ratio is 28.57%.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Investment Advisors LLC acquired a new position in shares of Helmerich & Payne in the 3rd quarter worth approximately $222,000. Raymond James & Associates lifted its stake in Helmerich & Payne by 189.6% during the third quarter. Raymond James & Associates now owns 51,946 shares of the oil and gas company’s stock worth $2,190,000 after purchasing an additional 34,007 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Helmerich & Payne by 5.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,178 shares of the oil and gas company’s stock worth $935,000 after purchasing an additional 1,118 shares during the last quarter. Strs Ohio boosted its holdings in Helmerich & Payne by 134.3% in the third quarter. Strs Ohio now owns 31,400 shares of the oil and gas company’s stock worth $1,323,000 after purchasing an additional 18,000 shares during the period. Finally, Advisor Partners II LLC bought a new stake in Helmerich & Payne during the third quarter valued at $251,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Company Profile

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.