Brokerages Set Helmerich & Payne, Inc. (NYSE:HP) PT at $33.00

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $33.00.

A number of analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Helmerich & Payne from $31.00 to $36.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. upgraded shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $24.00 to $34.00 in a report on Wednesday, December 10th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $34.00 target price on shares of Helmerich & Payne in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $28.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 21st.

Insider Activity

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares in the company, valued at $13,968,188.20. The trade was a 13.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its position in shares of Helmerich & Payne by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock valued at $2,203,000 after acquiring an additional 400 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Helmerich & Payne by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System grew its stake in Helmerich & Payne by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 416 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Helmerich & Payne by 21.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 437 shares during the period. Finally, Amalgamated Bank raised its stake in shares of Helmerich & Payne by 1.7% in the third quarter. Amalgamated Bank now owns 28,813 shares of the oil and gas company’s stock worth $636,000 after purchasing an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 2.3%

HP stock opened at $36.31 on Monday. The stock has a market capitalization of $3.69 billion, a P/E ratio of -21.74 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.80 and a quick ratio of 1.40. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $36.73. The business has a fifty day moving average price of $30.52 and a 200-day moving average price of $24.84.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.During the same period in the prior year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. Equities analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -59.88%.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.