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

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given an average recommendation of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $40.60.

HP has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Royal Bank Of Canada increased their target price on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Friday, March 20th. Susquehanna increased their target price on Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Finally, Morgan Stanley raised their price objective on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Thursday, May 14th.

Insider Transactions at Helmerich & Payne

In related news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the transaction, the senior vice president directly owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its position in Helmerich & Payne by 234.7% in the third quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock worth $8,470,000 after buying an additional 268,882 shares during the period. Fairfax Financial Holdings Ltd. Can increased its position in Helmerich & Payne by 20.5% in the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock worth $25,948,000 after buying an additional 200,000 shares during the period. Advisors Asset Management Inc. increased its position in Helmerich & Payne by 61.5% in the third quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock worth $2,606,000 after buying an additional 44,906 shares during the period. UBS Group AG increased its position in Helmerich & Payne by 17.5% in the fourth quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock worth $34,852,000 after buying an additional 180,638 shares during the period. Finally, Tcfg Wealth Management LLC increased its position in Helmerich & Payne by 85.9% in the third quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock worth $2,075,000 after buying an additional 43,412 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $39.24 on Friday. The stock has a market cap of $3.92 billion, a P/E ratio of -10.35 and a beta of 0.59. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $37.94 and a 200-day moving average of $34.32. Helmerich & Payne has a 52 week low of $15.08 and a 52 week high of $41.82.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share. On average, analysts expect that Helmerich & Payne will post -0.02 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 2.5%. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

About Helmerich & Payne

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.