Helmerich & Payne (NYSE:HP) Given “Underweight” Rating at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Helmerich & Payne (NYSE:HP) in a research note published on Thursday morning, MarketBeat.com reports. They currently have a $27.00 price objective on the oil and gas company’s stock.

Several other analysts have also recently issued reports on HP. Barclays reduced their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada decreased their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Argus raised Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a 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 $36.11.

Helmerich & Payne Trading Down 1.0 %

HP stock opened at $25.75 on Thursday. The business’s 50-day moving average is $28.24 and its 200 day moving average is $31.65. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 3.52 and a beta of 1.42. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a 12-month low of $23.80 and a 12-month high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, sell-side analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Activity at Helmerich & Payne

In related news, CEO John W. Lindsay bought 20,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average price of $27.55 per share, with a total value of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Belgacem Chariag bought 37,356 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the purchase, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. The trade was a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at $28,708,000. ARGA Investment Management LP increased its position in Helmerich & Payne by 42.5% during the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after purchasing an additional 801,000 shares during the last quarter. Norges Bank purchased a new position in Helmerich & Payne during the fourth quarter worth approximately $21,572,000. Bank of America Corp DE boosted its holdings in shares of Helmerich & Payne by 542.9% in the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company’s stock valued at $16,748,000 after purchasing an additional 441,688 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth $10,931,000. Hedge funds and other institutional investors 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.