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

Helmerich & Payne, Inc. (NYSE:HP) has been assigned an average rating of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have 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 twelve-month target price among analysts that have issued a report on the stock in the last year is $39.80.

A number of brokerages recently weighed in on HP. The Goldman Sachs Group raised their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Susquehanna cut their price target on shares of Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada raised their price objective 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. Piper Sandler lifted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Barclays lifted their price objective on shares of Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, May 8th.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently modified their holdings of the company. Grant Private Wealth Management Inc increased its position in shares of Helmerich & Payne by 39.6% during the 2nd quarter. Grant Private Wealth Management Inc now owns 9,925 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 2,815 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in Helmerich & Payne in the 1st quarter worth approximately $225,000. Cozad Asset Management Inc. lifted its position in Helmerich & Payne by 19.8% in the 1st quarter. Cozad Asset Management Inc. now owns 59,435 shares of the oil and gas company’s stock worth $2,141,000 after buying an additional 9,839 shares during the last quarter. Bank of America Corp DE boosted its stake in Helmerich & Payne by 109.2% in the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock worth $60,392,000 after buying an additional 874,823 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Helmerich & Payne in the first quarter worth approximately $319,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

NYSE:HP opened at $35.29 on Monday. The business’s 50-day moving average price is $36.02 and its two-hundred day moving average price is $35.43. Helmerich & Payne has a twelve month low of $15.17 and a twelve month high of $41.82. The stock has a market cap of $3.53 billion, a P/E ratio of -9.31 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. During the same period in the previous year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities analysts predict that Helmerich & Payne will post -0.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

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.