Helmerich & Payne (NYSE:HP) PT Raised to $71.00

Helmerich & Payne (NYSE:HPGet Rating) had its target price lifted by ATB Capital to $71.00 in a report issued on Monday, Stock Target Advisor reports.

Several other equities analysts have also commented on HP. Morgan Stanley upped their price target on shares of Helmerich & Payne from $55.00 to $60.00 and gave the stock an equal weight rating in a research report on Monday. StockNews.com started coverage on shares of Helmerich & Payne in a research note on Wednesday, October 12th. They set a hold rating for the company. TheStreet upgraded shares of Helmerich & Payne from a c rating to a b- rating in a research note on Wednesday, November 16th. Susquehanna Bancshares boosted their price objective on shares of Helmerich & Payne from $62.00 to $65.00 and gave the stock a positive rating in a research note on Friday, November 18th. Finally, Piper Sandler boosted their price objective on shares of Helmerich & Payne from $61.00 to $65.00 and gave the stock an overweight rating in a research note on Friday, November 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne has a consensus rating of Moderate Buy and a consensus target price of $60.55.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $51.78 on Monday. Helmerich & Payne has a one year low of $20.93 and a one year high of $54.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.32 and a current ratio of 2.54. The company has a 50 day moving average price of $45.51 and a 200 day moving average price of $44.72. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 1,035.81 and a beta of 1.75.

Helmerich & Payne (NYSE:HPGet Rating) last issued its quarterly earnings results on Thursday, November 17th. The oil and gas company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Helmerich & Payne had a net margin of 0.34% and a return on equity of 0.45%. The firm had revenue of $631.33 million during the quarter, compared to analyst estimates of $597.29 million. During the same quarter in the prior year, the business posted ($0.62) earnings per share. Helmerich & Payne’s revenue for the quarter was up 83.6% compared to the same quarter last year. Sell-side analysts anticipate that Helmerich & Payne will post 4.21 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 2,000.40%.

Insider Activity

In other Helmerich & Payne news, SVP Raymond John Adams III sold 1,500 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $47.50, for a total transaction of $71,250.00. Following the transaction, the senior vice president now directly owns 52,935 shares in the company, valued at approximately $2,514,412.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Helmerich & Payne news, SVP John R. Bell sold 4,314 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total transaction of $215,700.00. Following the transaction, the senior vice president now directly owns 117,395 shares in the company, valued at approximately $5,869,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Raymond John Adams III sold 1,500 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $47.50, for a total transaction of $71,250.00. Following the transaction, the senior vice president now owns 52,935 shares in the company, valued at $2,514,412.50. The disclosure for this sale can be found here. Insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HP. Goldman Sachs Group Inc. raised its holdings in shares of Helmerich & Payne by 260.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock worth $50,222,000 after purchasing an additional 848,198 shares during the period. Invesco Ltd. raised its holdings in shares of Helmerich & Payne by 157.8% during the first quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after purchasing an additional 767,791 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Helmerich & Payne during the first quarter worth $30,235,000. Capital Research Global Investors raised its holdings in shares of Helmerich & Payne by 83.1% during the first quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after purchasing an additional 579,949 shares during the period. Finally, FMR LLC raised its holdings in shares of Helmerich & Payne by 172.2% during the second quarter. FMR LLC now owns 883,576 shares of the oil and gas company’s stock worth $38,047,000 after purchasing an additional 558,971 shares during the period. 94.61% of the stock is currently owned by institutional investors.

Helmerich & Payne Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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