Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Recommendation of “Hold” by Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $36.11.

A number of research analysts recently weighed in on HP shares. Morgan Stanley reissued an “underweight” rating and issued a $27.00 price objective on shares of Helmerich & Payne in a research note on Thursday, March 27th. Evercore ISI restated an “in-line” rating and issued a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Finally, Barclays lowered 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.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay purchased 20,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Belgacem Chariag acquired 37,356 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the purchase, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. 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

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Helmerich & Payne by 4,743.2% in the 1st quarter. GAMMA Investing LLC now owns 82,722 shares of the oil and gas company’s stock valued at $21,610,000 after buying an additional 81,014 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 867 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter valued at $248,000. Hara Capital LLC increased its position in shares of Helmerich & Payne by 506.6% during the 4th quarter. Hara Capital LLC now owns 59,864 shares of the oil and gas company’s stock worth $1,917,000 after purchasing an additional 49,995 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth about $7,702,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Price Performance

NYSE HP opened at $20.04 on Tuesday. The company has a 50 day moving average price of $26.61 and a two-hundred day moving average price of $31.31. Helmerich & Payne has a 12-month low of $18.59 and a 12-month high of $44.11. The stock has a market capitalization of $1.99 billion, a PE ratio of 6.59, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (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 analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne’s payout ratio is presently 32.89%.

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.