A number of other equities analysts have also issued reports on HP. Zacks Investment Research raised Helmerich & Payne from a hold rating to a buy rating and set a $81.00 price objective for the company in a report on Tuesday, October 9th. Wolfe Research began coverage on Helmerich & Payne in a research note on Wednesday, October 10th. They set an underperform rating for the company. Wells Fargo & Co set a $72.00 price target on Helmerich & Payne and gave the company a hold rating in a research note on Monday, October 15th. They noted that the move was a valuation call. Morgan Stanley set a $71.00 price target on Helmerich & Payne and gave the company a sell rating in a research note on Thursday, October 11th. Finally, Cowen reaffirmed a hold rating and set a $61.00 price target on shares of Helmerich & Payne in a research note on Friday, October 12th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Helmerich & Payne presently has an average rating of Hold and an average target price of $67.11.
Shares of Helmerich & Payne stock traded up $0.39 on Tuesday, reaching $56.86. 264,147 shares of the company were exchanged, compared to its average volume of 1,541,878. The company has a current ratio of 2.70, a quick ratio of 2.29 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 406.14 and a beta of 1.57. Helmerich & Payne has a 1-year low of $44.56 and a 1-year high of $74.36.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Tuesday, January 29th. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. The business had revenue of $740.60 million for the quarter, compared to analysts’ expectations of $716.12 million. Helmerich & Payne had a return on equity of 1.18% and a net margin of 0.06%. Sell-side analysts predict that Helmerich & Payne will post 1.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, February 7th. Helmerich & Payne’s dividend payout ratio is presently 2,028.57%.
In other news, VP Michael Lennox sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total transaction of $415,272.96. Following the completion of the sale, the vice president now directly owns 10,360 shares of the company’s stock, valued at approximately $622,428.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John R. Bell sold 13,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the sale, the vice president now directly owns 63,375 shares of the company’s stock, valued at $3,813,273.75. The disclosure for this sale can be found here. Company insiders own 4.17% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HP. Capital International Ltd. CA lifted its holdings in shares of Helmerich & Payne by 172.0% in the third quarter. Capital International Ltd. CA now owns 20,400 shares of the oil and gas company’s stock valued at $1,403,000 after purchasing an additional 12,900 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at $4,212,000. Verity Asset Management Inc. purchased a new stake in shares of Helmerich & Payne in the third quarter valued at $329,000. AMP Capital Investors Ltd raised its holdings in shares of Helmerich & Payne by 107.7% during the third quarter. AMP Capital Investors Ltd now owns 67,640 shares of the oil and gas company’s stock worth $4,674,000 after acquiring an additional 35,067 shares in the last quarter. Finally, BTIM Corp. raised its holdings in shares of Helmerich & Payne by 3.5% during the third quarter. BTIM Corp. now owns 200,462 shares of the oil and gas company’s stock worth $13,786,000 after acquiring an additional 6,711 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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