Helmerich & Payne, Inc. (NYSE:HP) Receives $38.75 Consensus Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has earned an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $37.25.

A number of analysts have recently weighed in on the stock. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays dropped their price target on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. 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 research note on Friday, February 7th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st.

Insider Activity

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now directly owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Lindsay bought 20,000 shares of the stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the transaction, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in Helmerich & Payne in the 4th quarter worth approximately $27,000. Covestor Ltd lifted its stake in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Blue Trust Inc. lifted its position in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the period. Quarry LP acquired a new stake in shares of Helmerich & Payne in the 3rd quarter valued at $48,000. Finally, Eastern Bank bought a new stake in Helmerich & Payne during the third quarter worth about $61,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $26.23 on Monday. The company’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $32.90. The company has a market cap of $2.61 billion, a PE ratio of 8.63, a P/E/G ratio of 3.52 and a beta of 1.37. Helmerich & Payne has a 52 week low of $25.69 and a 52 week high of $44.11. 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 (NYSE:HP) last posted its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, equities research analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 32.89%.

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.