Helmerich & Payne, Inc. (NYSE:HP) Receives $42.88 Consensus PT from Analysts

Helmerich & Payne, Inc. (NYSE:HP) has received an average rating of “Reduce” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $42.63.

HP has been the subject of several research reports. Susquehanna lowered their price objective on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday. The Goldman Sachs Group lowered their price objective on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th. Piper Sandler increased their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Citigroup increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st.

Helmerich & Payne Stock Performance

HP opened at $40.39 on Tuesday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.94 and a beta of 1.51. The company has a fifty day moving average of $40.75 and a 200 day moving average of $38.69. Helmerich & Payne has a fifty-two week low of $30.41 and a fifty-two week high of $46.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 2.16.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $661.81 million. During the same quarter last year, the business earned $1.11 earnings per share. Helmerich & Payne’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.42 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 4.16%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Investors Weigh In On Helmerich & Payne

Several institutional investors have recently made changes to their positions in HP. Victory Capital Management Inc. increased its stake in Helmerich & Payne by 13,372.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock worth $101,958,000 after buying an additional 2,400,414 shares during the period. Pacer Advisors Inc. increased its stake in Helmerich & Payne by 130.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after buying an additional 1,541,987 shares during the period. The Manufacturers Life Insurance Company increased its stake in Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock worth $30,487,000 after buying an additional 760,554 shares during the period. ARGA Investment Management LP increased its stake in Helmerich & Payne by 497.3% in the 4th quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock worth $32,131,000 after buying an additional 738,594 shares during the period. Finally, LSV Asset Management increased its stake in Helmerich & Payne by 11,750.0% in the 4th quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock worth $20,602,000 after buying an additional 564,000 shares during the period. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.