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

Shares of Helmerich & Payne, Inc. (NYSE:HP) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $41.00.

HP has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup decreased their price objective on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Finally, Morgan Stanley increased their target price on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, August 20th.

Helmerich & Payne Trading Up 2.8%

HP stock opened at $42.58 on Friday. The company has a market cap of $4.25 billion, a P/E ratio of -30.20 and a beta of 0.61. Helmerich & Payne has a twelve month low of $19.48 and a twelve month high of $45.00. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $36.35 and a 200-day moving average of $36.55.

Helmerich & Payne (NYSE:HP) last issued its 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). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same period last year, the business posted $0.22 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts expect that Helmerich & Payne will post -0.16 EPS for the current year.

Helmerich & Payne Announces Dividend

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

Insider Buying and Selling

In related news, Director Hans Helmerich sold 94,470 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $878,000. The trade was a 82.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Cara M. Hair sold 11,149 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the transaction, the senior vice president directly owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,673 shares of company stock worth $4,864,590 over the last ninety days. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently made changes to their positions in HP. Corient Private Wealth LP grew its position in Helmerich & Payne by 24.9% in the second quarter. Corient Private Wealth LP now owns 8,505 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 1,698 shares in the last quarter. Amundi increased its stake in Helmerich & Payne by 85.4% in the 2nd quarter. Amundi now owns 22,773 shares of the oil and gas company’s stock valued at $746,000 after buying an additional 10,490 shares during the last quarter. California State Teachers Retirement System lifted its position in Helmerich & Payne by 3,079.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,722,669 shares of the oil and gas company’s stock worth $113,704,000 after buying an additional 3,605,593 shares in the last quarter. Readystate Asset Management LP bought a new stake in Helmerich & Payne during the 2nd quarter worth about $9,311,000. Finally, Nykredit A S acquired a new position in shares of Helmerich & Payne during the 2nd quarter worth about $112,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.