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

Helmerich & Payne, Inc. (NYSE:HP) has been given an average rating of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.00.

A number of research firms have issued reports on HP. Royal Bank Of Canada upped their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Citigroup dropped their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Piper Sandler raised their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th.

Insider Buying and Selling at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 5,054 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the sale, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $44.27, for a total value of $493,566.23. Following the completion of the transaction, the senior vice president directly owned 136,095 shares in the company, valued at $6,024,925.65. The trade was a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in Helmerich & Payne in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 445 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Helmerich & Payne during the 1st quarter valued at about $101,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 0.4%

NYSE HP opened at $43.92 on Friday. The stock has a market capitalization of $4.39 billion, a P/E ratio of -31.15 and a beta of 0.61. Helmerich & Payne has a 52 week low of $17.35 and a 52 week high of $45.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The stock has a fifty day moving average of $35.78 and a 200-day moving average of $36.30.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. On average, equities research analysts forecast that Helmerich & Payne will post -0.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Helmerich & Payne’s dividend payout ratio is -70.92%.

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.