Helmerich & Payne (NYSE:HP) Price Target Cut to $39.00 by Analysts at Barclays

Helmerich & Payne (NYSE:HP) had its target price trimmed by Barclays from $42.00 to $39.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

A number of other brokerages have also recently issued reports on HP. Royal Bank of Canada raised their target price on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. The Goldman Sachs Group decreased their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Bank of America lowered their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Finally, Piper Sandler decreased their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.75.

Helmerich & Payne Stock Up 1.8 %

HP opened at $34.67 on Wednesday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 3.80 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The firm’s 50-day simple moving average is $32.81 and its 200-day simple moving average is $36.25. Helmerich & Payne has a twelve month low of $29.46 and a twelve month high of $44.80.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. The company had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts anticipate that Helmerich & Payne will post 3.48 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s payout ratio is presently 28.57%.

Institutional Investors Weigh In On Helmerich & Payne

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $33,000. Hexagon Capital Partners LLC boosted its holdings in shares of Helmerich & Payne by 514.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 787 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 674 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Helmerich & Payne by 94.9% in the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $102,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.