Helmerich & Payne, Inc. (NYSE:HP) Receives $28.80 Average Price Target from Brokerages

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has been assigned a consensus recommendation of "Hold" from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.73.

HP has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Susquehanna dropped their price target on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Barclays cut their price target on shares of Helmerich & Payne from $24.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Finally, Citigroup reiterated a "neutral" rating and issued a $19.00 price objective (down from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th.

Helmerich & Payne Stock Performance

Shares of NYSE:HP traded up $0.14 on Wednesday, hitting $15.34. 1,547,634 shares of the company were exchanged, compared to its average volume of 1,626,986. The stock's 50 day moving average price is $19.79 and its 200 day moving average price is $27.14. The firm has a market capitalization of $1.52 billion, a P/E ratio of 5.04, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. 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 1-year low of $14.65 and a 1-year high of $42.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $961.03 million. During the same period in the previous year, the company posted $0.84 earnings per share. Helmerich & Payne's revenue for the quarter was up 47.7% compared to the same quarter last year. Sell-side analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.52%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne's dividend payout ratio (DPR) is 45.66%.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently bought and sold shares of HP. Intech Investment Management LLC boosted its holdings in shares of Helmerich & Payne by 32.1% in the first quarter. Intech Investment Management LLC now owns 90,428 shares of the oil and gas company's stock valued at $2,362,000 after acquiring an additional 21,958 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock worth $5,575,000 after purchasing an additional 54,758 shares in the last quarter. Empowered Funds LLC raised its position in shares of Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock worth $247,000 after purchasing an additional 852 shares during the last quarter. Caxton Associates LLP purchased a new stake in Helmerich & Payne in the 1st quarter valued at approximately $665,000. Finally, Petrus Trust Company LTA acquired a new stake in Helmerich & Payne during the 1st quarter valued at $468,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.