Helmerich & Payne, Inc. (NYSE:HP) Given Average Rating of "Hold" by Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Two research 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.45.

A number of equities research analysts have recently commented on the stock. TD Cowen dropped their price objective on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Wall Street Zen lowered shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Citigroup reiterated a "neutral" rating and issued a $19.00 price target (down from $25.00) on shares of Helmerich & Payne in a research note on Monday, May 19th. Morgan Stanley dropped their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Finally, Barclays dropped their price target on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth $27,000. Versant Capital Management Inc lifted 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 worth $44,000 after purchasing an additional 867 shares during the period. Covestor Ltd lifted its holdings 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. Smartleaf Asset Management LLC lifted its holdings in shares of Helmerich & Payne by 82.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 1,268 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of Helmerich & Payne by 817.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock worth $98,000 after purchasing an additional 2,714 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Trading Down 1.7%

NYSE HP opened at $17.08 on Friday. The company's 50-day moving average price is $18.05 and its 200-day moving average price is $25.15. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.70 billion, a PE ratio of 7.80 and a beta of 0.83. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $42.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data 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 7.15% and a return on equity of 8.25%. The company 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 business earned $0.84 earnings per share. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. Equities research analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.85%. Helmerich & Payne's dividend payout ratio (DPR) is presently 45.66%.

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.

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