Helmerich & Payne (NYSE:HP) Price Target Cut to $20.00 by Analysts at Morgan Stanley

Helmerich & Payne (NYSE:HP) had its price objective cut by Morgan Stanley from $27.00 to $20.00 in a report published on Friday morning,Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

Several other analysts have also weighed in on the company. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a report on Thursday, April 10th. StockNews.com lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Friday, May 9th. TD Cowen lowered their price objective on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a report on Friday, May 9th. Royal Bank of Canada lowered their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Barclays lowered their target price on Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $29.40.

Helmerich & Payne Stock Down 1.9%

Shares of Helmerich & Payne stock opened at $17.82 on Friday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.77 billion, a P/E ratio of 5.86, a P/E/G ratio of 3.52 and a beta of 0.93. Helmerich & Payne has a fifty-two week low of $17.49 and a fifty-two week high of $42.60. The business has a 50-day moving average price of $21.53 and a 200 day moving average price of $28.34.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.63). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, sell-side analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio (DPR) is 45.66%.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its position in shares of Helmerich & Payne by 4.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company’s stock valued at $324,000 after acquiring an additional 395 shares during the last quarter. LPL Financial LLC lifted its position in shares of Helmerich & Payne by 1.9% during the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock valued at $697,000 after acquiring an additional 408 shares during the last quarter. Napatree Capital LLC lifted its position in shares of Helmerich & Payne by 2.5% during the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock valued at $668,000 after acquiring an additional 511 shares during the last quarter. Ellis Investment Partners LLC lifted its position in shares of Helmerich & Payne by 4.5% during the 1st quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 558 shares during the last quarter. Finally, Ridgewood Investments LLC raised its stake in Helmerich & Payne by 4.4% during the 1st quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company’s stock valued at $350,000 after purchasing an additional 569 shares during the period. 96.05% of the stock is 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.