Helmerich & Payne, Inc. (NYSE:HP) Stock Has Average Price Target of $44.36 According to Brokerages

Key Points

• Analyst sentiment is mixed: 13 firms give Helmerich & Payne an average “Hold” rating, with seven buys, five holds, and one sell. Their average 12-month price target is $44.36.
• The stock opened at $37.94, while recent analyst price targets included increases to $48–$50. The company’s latest reported quarterly EPS of -$0.11 missed the $0.09 consensus, although revenue of $1.03 billion topped estimates.
• Helmerich & Payne declared a quarterly dividend of $0.25 per share, or $1.00 annualized, representing a 2.6% yield.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has been given an average rating of "Hold" by the thirteen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $44.36.

Several equities research analysts have recently issued reports on HP shares. UBS Group raised their price objective on shares of Helmerich & Payne from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Citigroup upped their target price on shares of Helmerich & Payne from $36.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, September 4th. Susquehanna upped their price target on shares of Helmerich & Payne from $44.00 to $50.00 and gave the company a "positive" rating in a report on Monday, October 5th. Bank of America restated a "buy" rating on shares of Helmerich & Payne in a report on Monday, October 12th. Finally, Royal Bank Of Canada upped their target price on shares of Helmerich & Payne from $44.00 to $49.00 and gave the company a "sector perform" rating in a report on Thursday, September 10th.

Helmerich & Payne Stock Down 2.3%

Shares of HP stock opened at $37.94 on Wednesday. Helmerich & Payne has a 1 year low of $24.45 and a 1 year high of $48.17. The stock has a market cap of $3.79 billion, a PE ratio of -26.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.63. The business's fifty day moving average is $40.65 and its 200-day moving average is $37.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $987.70 million. During the same quarter in the previous year, the company earned $0.22 EPS. Helmerich & Payne's revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Helmerich & Payne will post -0.17 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. Helmerich & Payne's payout ratio is -70.92%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Momper sold 5,054 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the sale, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. The trade was a 22.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Cara M. Hair sold 11,149 shares of Helmerich & Payne stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the completion of the transaction, the senior vice president directly owned 136,095 shares in the company, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 110,673 shares of company stock worth $4,864,590. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the business. Cadence Wealth Management LLC purchased a new stake in Helmerich & Payne in the second quarter worth about $1,416,000. Deutsche Bank AG purchased a new position in Helmerich & Payne during the second quarter valued at $5,970,000. Energy Income Partners LLC bought a new stake in Helmerich & Payne in the second quarter worth $4,268,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Helmerich & Payne in the second quarter worth $4,521,000. Finally, Legal & General Group Plc purchased a new stake in shares of Helmerich & Payne in the second quarter worth $7,233,000. 96.05% of the stock is owned by institutional investors and hedge funds.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land-based and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and provides related equipment, technology and field services used to drill and develop hydrocarbon wells.

H&P is known for its FlexRig fleet, including AC-powered rigs designed for horizontal and unconventional drilling. Its services may include rig operations, drilling support, automation and other technologies intended to improve operational efficiency, well placement and safety.

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