Helmerich & Payne (NYSE:HP) Price Target Cut to $28.00 by Analysts at Susquehanna

Helmerich & Payne (NYSE:HP) had its price objective cut by Susquehanna from $43.00 to $28.00 in a research note released on Monday,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

Other equities analysts have also issued research reports about the company. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their target price on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Morgan Stanley reissued an “underweight” rating and issued a $27.00 target price on shares of Helmerich & Payne in a report on Thursday, March 27th. Royal Bank of Canada decreased their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and an average target price of $31.78.

Helmerich & Payne Stock Up 0.1 %

Shares of NYSE HP opened at $19.71 on Monday. The stock has a market capitalization of $1.96 billion, a P/E ratio of 6.48, a PEG ratio of 3.52 and a beta of 1.00. The stock’s fifty day moving average is $24.54 and its 200 day moving average is $30.58. Helmerich & Payne has a 52 week low of $17.82 and a 52 week high of $42.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81.

Helmerich & Payne (NYSE:HP) last issued its 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 net margin of 11.02% and a return on equity of 11.31%. Sell-side analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.07%. Helmerich & Payne’s payout ratio is 32.89%.

Insiders Place Their Bets

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

Institutional Trading of Helmerich & Payne

Several hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter valued at about $27,000. Versant Capital Management Inc increased its holdings in shares of Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 867 shares in the last quarter. Covestor Ltd raised its position in shares of Helmerich & Payne by 61.3% during the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 907 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Steph & Co. acquired a new stake in Helmerich & Payne in the 4th quarter valued at $87,000. 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.