Helmerich & Payne, Inc. (NYSE:HP) Receives $38.75 Average Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has earned an average rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $37.25.

A number of equities analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Evercore ISI restated an “in-line” rating and issued a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Finally, Barclays reduced their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag purchased 37,356 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the purchase, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently bought and sold shares of HP. Creative Planning boosted its stake in shares of Helmerich & Payne by 13.3% in the third quarter. Creative Planning now owns 23,656 shares of the oil and gas company’s stock valued at $720,000 after buying an additional 2,774 shares in the last quarter. Blue Trust Inc. raised its position in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Helmerich & Payne by 33.6% in the third quarter. Raymond James & Associates now owns 93,310 shares of the oil and gas company’s stock worth $2,838,000 after acquiring an additional 23,459 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Helmerich & Payne by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 340,943 shares of the oil and gas company’s stock valued at $10,371,000 after purchasing an additional 18,147 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Helmerich & Payne during the third quarter valued at approximately $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $26.23 on Monday. The firm’s 50 day moving average price is $31.60 and its 200-day moving average price is $32.90. The stock has a market capitalization of $2.61 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 3.52 and a beta of 1.37. Helmerich & Payne has a twelve month low of $25.69 and a twelve month high of $44.11. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

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

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is presently 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.