Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $31.90

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given an average recommendation of “Hold” by the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.90.

Several equities research analysts have weighed in on HP shares. Royal Bank Of Canada increased their target price on Helmerich & Payne from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 20th. Citigroup increased their price objective on shares of Helmerich & Payne from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Cowen reissued a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday, January 7th. Susquehanna raised their price target on shares of Helmerich & Payne from $31.00 to $36.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $24.00 to $34.00 in a report on Wednesday, December 10th.

Helmerich & Payne Price Performance

HP opened at $30.54 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $28.41 and its 200 day moving average price is $22.87. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $37.30. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -18.29 and a beta of 0.56.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $972.79 million. Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, sell-side analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 annualized dividend and a yield of 3.3%. Helmerich & Payne’s payout ratio is presently -59.88%.

Insider Transactions at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the transaction, the director owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.51% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in Helmerich & Payne by 7.8% during the 4th quarter. SG Americas Securities LLC now owns 24,835 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 1,804 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Helmerich & Payne by 4.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,632 shares of the oil and gas company’s stock worth $486,000 after acquiring an additional 649 shares during the period. Park Avenue Securities LLC bought a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $209,000. GAMMA Investing LLC increased its stake in shares of Helmerich & Payne by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 4,553 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 745 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in Helmerich & Payne during the third quarter worth approximately $228,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.