Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average rating of “Hold” from the twenty-eight brokerages that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $55.50.

A number of equities research analysts have issued reports on HP shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $65.00 target price on shares of Helmerich & Payne in a research report on Thursday, July 20th. Seaport Global Securities reaffirmed a “sell” rating on shares of Helmerich & Payne in a research report on Thursday, July 20th. Citigroup Inc. cut Helmerich & Payne from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $58.00 to $43.00 in a research report on Friday, July 28th. BidaskClub cut Helmerich & Payne from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, UBS AG reaffirmed a “buy” rating and set a $60.00 target price (down previously from $84.00) on shares of Helmerich & Payne in a research report on Monday, July 31st.

In other news, CEO John W. Lindsay bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average cost of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the purchase, the chief executive officer now owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.23% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc raised its stake in Helmerich & Payne by 0.4% during the second quarter. CIBC Asset Management Inc now owns 11,126 shares of the oil and gas company’s stock worth $605,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Helmerich & Payne by 0.6% during the second quarter. Meeder Asset Management Inc. now owns 10,058 shares of the oil and gas company’s stock worth $547,000 after acquiring an additional 57 shares in the last quarter. Murphy Capital Management Inc. raised its stake in Helmerich & Payne by 2.6% during the second quarter. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. raised its stake in Helmerich & Payne by 0.8% during the second quarter. Physicians Financial Services Inc. now owns 12,950 shares of the oil and gas company’s stock worth $704,000 after acquiring an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its stake in Helmerich & Payne by 3.1% during the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 101 shares in the last quarter.

Shares of Helmerich & Payne (NYSE HP) traded down $1.77 during trading on Thursday, reaching $56.38. The company’s stock had a trading volume of 1,451,000 shares, compared to its average volume of 1,865,500. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.33. Helmerich & Payne has a 52-week low of $42.16 and a 52-week high of $85.78.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a $0.70 dividend. The ex-dividend date is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.97%. Helmerich & Payne’s payout ratio is -167.66%.

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About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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