Piper Sandler Trims Helmerich & Payne (NYSE:HP) Target Price to $39.00

Helmerich & Payne (NYSE:HP) had its price target cut by Piper Sandler from $44.00 to $39.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research analysts also recently commented on HP. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $37.00 to $33.00 and set a sell rating on the stock in a report on Friday, January 12th. Citigroup raised their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Benchmark reaffirmed a hold rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Royal Bank of Canada raised 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 report on Wednesday, January 31st. Finally, Susquehanna lowered their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a positive rating for the company in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $42.00.

Helmerich & Payne Stock Down 0.4 %

Shares of HP opened at $38.45 on Monday. The firm has a fifty day moving average price of $40.78 and a 200-day moving average price of $38.45. 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 firm has a market capitalization of $3.80 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.85 and a beta of 1.51. Helmerich & Payne has a 12-month low of $30.41 and a 12-month 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. Helmerich & Payne’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Equities research analysts expect that Helmerich & Payne will post 3.56 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.42 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.68 annualized dividend and a yield of 4.37%. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Insiders Place Their Bets

In other news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the sale, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the transaction, the chief financial officer now owns 144,870 shares in the company, valued at approximately $5,865,786.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC raised its position in Helmerich & Payne by 2.5% during the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after buying an additional 308 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Helmerich & Payne by 5.8% in the fourth quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $230,000 after acquiring an additional 346 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Helmerich & Payne by 26.4% during the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 355 shares during the last quarter. Marathon Capital Management lifted its position in Helmerich & Payne by 0.4% during the fourth quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after purchasing an additional 409 shares during the period. Finally, Savant Capital LLC boosted its holdings in Helmerich & Payne by 3.0% in the fourth quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.