Royal Bank of Canada Cuts Helmerich & Payne (NYSE:HP) Price Target to $35.00

Helmerich & Payne (NYSE:HP) had its price objective lowered by Royal Bank of Canada from $41.00 to $35.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the stock. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Barclays dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.75.

Helmerich & Payne Price Performance

HP stock opened at $26.81 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40. The company’s 50-day moving average is $33.12 and its 200-day moving average is $33.68. The stock has a market capitalization of $2.66 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. Helmerich & Payne has a 1 year low of $26.75 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data 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 return on equity of 11.31% and a net margin of 11.02%. Equities research analysts expect that Helmerich & Payne will post 3.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.73%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 32.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of Helmerich & Payne by 18.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock worth $1,784,000 after buying an additional 9,004 shares during the last quarter. Petrus Trust Company LTA purchased a new position in Helmerich & Payne in the third quarter valued at about $619,000. FMR LLC grew its position in shares of Helmerich & Payne by 510.7% during the 3rd quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after acquiring an additional 117,624 shares during the period. Barclays PLC increased its stake in shares of Helmerich & Payne by 320.2% during the 3rd quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after purchasing an additional 151,196 shares during the last quarter. Finally, Tandem Financial LLC purchased a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $413,000. Institutional investors own 96.05% of the company’s stock.

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.