Helmerich & Payne, Inc. (NYSE:HP) Given Average Recommendation of “Hold” by Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has received a consensus rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $43.10.

A number of analysts recently issued reports on HP shares. Citigroup increased their target price on Helmerich & Payne from $36.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. The Goldman Sachs Group upped their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Susquehanna increased their price objective on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Royal Bank Of Canada raised their price objective on shares of Helmerich & Payne from $44.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th.

Helmerich & Payne Stock Down 3.3%

NYSE:HP opened at $42.60 on Tuesday. Helmerich & Payne has a 1 year low of $20.32 and a 1 year high of $48.17. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -30.22 and a beta of 0.66. The stock has a 50-day moving average price of $39.08 and a two-hundred day moving average price of $37.39.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that Helmerich & Payne will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Helmerich & Payne

In other news, CAO Sara Momper sold 5,054 shares of the business’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 sale, the chief accounting officer directly owned 16,958 shares in the company, valued at $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $878,000. This represents a 82.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 110,673 shares of company stock valued at $4,864,590 in the last 90 days. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Helmerich & Payne during the 2nd quarter worth approximately $513,336,000. Dimensional Fund Advisors LP lifted its position in shares of Helmerich & Payne by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after purchasing an additional 570,500 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Helmerich & Payne by 3,079.7% in the second 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 purchasing an additional 3,605,593 shares in the last quarter. Bank of America Corp DE boosted its holdings in Helmerich & Payne by 109.2% during 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 purchasing an additional 874,823 shares during the last quarter. Finally, Encompass Capital Advisors LLC boosted its holdings in Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after purchasing an additional 1,296,537 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P’s offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.