Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $36.20.

HP has been the topic of a number of research analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Helmerich & Payne in a report on Friday, February 6th. Royal Bank Of Canada boosted their price objective on Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Finally, Barclays increased their price objective on Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Helmerich & Payne by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,165,265 shares of the oil and gas company’s stock worth $148,141,000 after purchasing an additional 194,935 shares in the last quarter. State Street Corp increased its position in shares of Helmerich & Payne by 0.8% during the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock valued at $121,102,000 after purchasing an additional 33,193 shares during the last quarter. American Century Companies Inc. boosted its stake in Helmerich & Payne by 7.7% in the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock valued at $76,741,000 after acquiring an additional 249,425 shares during the last quarter. Invesco Ltd. increased its position in Helmerich & Payne by 15.5% in the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock worth $99,477,000 after buying an additional 465,440 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Helmerich & Payne by 4.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after acquiring an additional 87,882 shares during the period. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 3.2%

Shares of HP stock opened at $33.97 on Friday. The stock has a market cap of $3.39 billion, a P/E ratio of -10.65 and a beta of 0.54. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $36.73. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $32.68 and a 200 day simple moving average of $27.28.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. Helmerich & Payne’s revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, research analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -31.35%.

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.