Helmerich & Payne, Inc. (NYSE:HP) Receives $43.10 Consensus PT from Analysts

Shares of Helmerich & Payne, Inc. (NYSE:HP) have received an average recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $43.10.

A number of equities analysts have issued reports on the stock. Weiss Ratings lowered shares of Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, August 27th. Barclays increased their price objective on shares of Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. The Goldman Sachs Group raised their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Morgan Stanley increased their price target on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, August 20th.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Momper sold 5,054 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the sale, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. This represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,673 shares of company stock valued at $4,864,590 over the last ninety days. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in HP. Core Capital Management & Research inc. acquired a new stake in Helmerich & Payne during the second quarter valued at $196,000. Engineers Gate Manager LP increased its holdings in Helmerich & Payne by 120.3% in the second quarter. Engineers Gate Manager LP now owns 20,962 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 11,445 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Helmerich & Payne by 10.6% in the second quarter. Squarepoint Ops LLC now owns 137,145 shares of the oil and gas company’s stock worth $4,490,000 after acquiring an additional 13,160 shares during the period. Nykredit A S acquired a new position in shares of Helmerich & Payne in the second quarter worth about $112,000. Finally, Corient Private Wealth LP boosted its stake in shares of Helmerich & Payne by 24.9% during the 2nd quarter. Corient Private Wealth LP now owns 8,505 shares of the oil and gas company’s stock worth $278,000 after acquiring an additional 1,698 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 1.6%

Shares of HP stock opened at $40.27 on Tuesday. The stock’s 50-day simple moving average is $39.94 and its 200-day simple moving average is $37.64. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market capitalization of $4.02 billion, a PE ratio of -28.56 and a beta of 0.66. Helmerich & Payne has a fifty-two week low of $20.57 and a fifty-two week high of $48.17.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities analysts expect that Helmerich & Payne will post -0.18 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. Helmerich & Payne’s dividend payout ratio is presently -70.92%.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P’s offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.