Helmerich & Payne, Inc. (NYSE:HP) Receives $39.10 Average PT from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has earned an average rating of “Hold” from the twelve analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $39.50.

Several analysts recently commented on the company. Susquehanna raised their target price on Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Royal Bank Of Canada raised their target price on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Barclays raised their target price on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. TD Cowen raised their target price on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Finally, Citigroup raised their target price on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th.

Insider Buying and Selling

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the sale, the senior vice president directly owned 175,589 shares of the company’s stock, valued at approximately $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently bought and sold shares of the business. Quantinno Capital Management LP grew its holdings in Helmerich & Payne by 11.7% in the first quarter. Quantinno Capital Management LP now owns 44,748 shares of the oil and gas company’s stock valued at $1,612,000 after purchasing an additional 4,689 shares during the period. Entropy Technologies LP grew its holdings in Helmerich & Payne by 47.0% in the first quarter. Entropy Technologies LP now owns 18,059 shares of the oil and gas company’s stock valued at $651,000 after purchasing an additional 5,770 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Helmerich & Payne in the first quarter valued at approximately $9,983,000. Caxton Associates LLP acquired a new stake in Helmerich & Payne in the first quarter valued at approximately $3,349,000. Finally, Sei Investments Co. grew its holdings in Helmerich & Payne by 52.6% in the first quarter. Sei Investments Co. now owns 66,255 shares of the oil and gas company’s stock valued at $2,387,000 after purchasing an additional 22,850 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 0.1%

Helmerich & Payne stock opened at $39.48 on Wednesday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -10.42 and a beta of 0.62. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $41.68. The business’s 50-day moving average price is $36.42 and its 200 day moving average price is $32.59. 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 posted its earnings results 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). The company had revenue of $932.36 million for the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The firm’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. As a group, sell-side analysts anticipate that Helmerich & Payne will post 0.07 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, May 18th. 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.