Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Rating of “Hold” by Analysts

Helmerich & Payne, Inc. (NYSE:HP) has earned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $33.9091.

Several equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Piper Sandler raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $21.00 to $35.00 in a report on Thursday, December 18th. Evercore ISI set a $37.00 price objective on shares of Helmerich & Payne in a report on Friday. Citigroup raised their target price on Helmerich & Payne from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Wednesday, January 7th.

Helmerich & Payne Stock Up 4.3%

Helmerich & Payne stock opened at $36.00 on Monday. 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 $30.82 and a 200-day moving average price of $25.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.27). The business had revenue of $1.02 billion for 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%. The company’s quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts forecast that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne’s payout ratio is -31.35%.

Insider Buying and Selling

In related news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 made changes to their positions in the business. Alan B Lancz & Associates Inc. purchased a new position in shares of Helmerich & Payne during the fourth quarter worth $201,000. Leonteq Securities AG acquired a new stake in Helmerich & Payne during the 4th quarter worth about $26,000. ProShare Advisors LLC raised its stake in shares of Helmerich & Payne by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 18,838 shares of the oil and gas company’s stock valued at $540,000 after buying an additional 572 shares during the last quarter. May Hill Capital LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at about $231,000. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Helmerich & Payne by 65.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 235,343 shares of the oil and gas company’s stock valued at $6,750,000 after buying an additional 93,107 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.