Helmerich & Payne (NYSE:HP) Given New $43.00 Price Target at Susquehanna

Helmerich & Payne (NYSE:HP) had its price target upped by Susquehanna from $42.00 to $43.00 in a research report report published on Friday, Marketbeat.com reports. They currently have a positive rating on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the company. Evercore raised Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Friday, March 20th. Barclays raised their price objective on Helmerich & Payne from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. TD Cowen upped their target price on Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Morgan Stanley raised their price target on Helmerich & Payne from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, April 15th. Finally, Citigroup boosted their price target on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $39.10.

Helmerich & Payne Stock Performance

HP stock opened at $37.89 on Friday. The firm has a 50-day simple moving average of $35.92 and a two-hundred day simple moving average of $31.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.58 and a current ratio of 1.71. Helmerich & Payne has a one year low of $14.65 and a one year high of $41.68. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -10.00 and a beta of 0.62.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The firm had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. The company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. On average, equities analysts forecast that Helmerich & Payne will post 0.11 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. Helmerich & Payne’s payout ratio is currently -31.35%.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the business’s stock in a transaction dated 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 sale, the senior vice president owned 175,589 shares in the company, valued at approximately $6,430,069.18. The trade was a 25.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after buying an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Helmerich & Payne by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock valued at $1,531,000 after acquiring an additional 3,611 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Helmerich & Payne by 39,685.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after acquiring an additional 34,526 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Helmerich & Payne by 9.9% in the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 852 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after acquiring an additional 54,758 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.