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

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.25.

Several equities research analysts have issued reports on the company. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Barclays cut their target price on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada dropped their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th.

Insiders Place Their Bets

In related news, CEO John W. Lindsay bought 20,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Belgacem Chariag bought 37,356 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the purchase, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by corporate insiders.

Institutional Trading of Helmerich & Payne

Several institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its stake in Helmerich & Payne by 18.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after purchasing an additional 9,004 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Helmerich & Payne by 18.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock valued at $13,242,000 after purchasing an additional 64,971 shares in the last quarter. Private Capital Management LLC purchased a new stake in shares of Helmerich & Payne during the third quarter valued at $1,095,000. Fisher Asset Management LLC increased its holdings in Helmerich & Payne by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock worth $45,268,000 after buying an additional 62,377 shares in the last quarter. Finally, Legato Capital Management LLC increased its holdings in Helmerich & Payne by 93.9% in the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock worth $2,436,000 after buying an additional 36,828 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Trading Up 0.2 %

Shares of HP opened at $25.39 on Friday. The business’s 50-day moving average price is $29.55 and its 200-day moving average price is $31.94. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.52 billion, a PE ratio of 8.35, a P/E/G ratio of 3.52 and a beta of 1.42. Helmerich & Payne has a twelve month low of $23.80 and a twelve month high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, equities analysts forecast that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 3.94%. Helmerich & Payne’s payout ratio is 32.89%.

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.