Helmerich & Payne (NYSE:HP) Price Target Raised to $47.00

Helmerich & Payne (NYSE:HP) had its price target raised by Barclays from $39.00 to $47.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

A number of other research firms have also commented on HP. Piper Sandler increased their price target on Helmerich & Payne from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Susquehanna increased their price target on Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research report on Friday. Evercore raised Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target for the company in a research report on Friday, March 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Friday, March 27th. Finally, Citigroup increased their price target on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.10.

Helmerich & Payne Price Performance

Shares of HP opened at $37.89 on Friday. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $41.68. The business’s fifty day moving average is $35.92 and its 200 day moving average is $31.99. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.79 billion, a P/E ratio of -10.00 and a beta of 0.62.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $945.60 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Helmerich & Payne’s revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts anticipate that Helmerich & Payne will post 0.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio is presently -26.39%.

Insider Activity

In other 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 completion of the sale, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in the business. William B. Walkup & Associates Inc. increased its position in shares of Helmerich & Payne by 1.0% during the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock valued at $1,270,000 after purchasing an additional 355 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Helmerich & Payne by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock valued at $2,203,000 after purchasing an additional 400 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Helmerich & Payne by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System increased its position in shares of Helmerich & Payne by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 416 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Helmerich & Payne by 21.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 437 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.