Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Recommendation of "Reduce" by Brokerages

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has earned an average recommendation of "Reduce" from the twelve analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.10.

HP has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Piper Sandler initiated coverage on shares of Helmerich & Payne in a research note on Monday. They set a "neutral" rating and a $20.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Citigroup reissued a "neutral" rating and set a $17.00 target price (down previously from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Finally, Barclays lowered their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of Helmerich & Payne during the fourth quarter valued at about $2,788,000. Principal Financial Group Inc. boosted its holdings in Helmerich & Payne by 3.3% during the first quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company's stock worth $12,925,000 after purchasing an additional 15,990 shares during the last quarter. Magnetar Financial LLC boosted its holdings in Helmerich & Payne by 389.3% during the fourth quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company's stock worth $1,241,000 after purchasing an additional 30,833 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Helmerich & Payne during the fourth quarter worth about $10,931,000. Finally, Grace & White Inc. NY boosted its holdings in Helmerich & Payne by 40.8% during the first quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company's stock worth $2,960,000 after purchasing an additional 32,856 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Trading Up 2.6%

Shares of HP stock traded up $0.41 during trading hours on Thursday, hitting $16.00. 1,739,581 shares of the company's stock traded hands, compared to its average volume of 1,771,738. The stock's 50 day simple moving average is $16.77 and its 200 day simple moving average is $23.20. The stock has a market cap of $1.59 billion, a PE ratio of 7.30 and a beta of 0.82. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $42.60. The company has a quick ratio of 1.32, a current ratio of 1.68 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.63). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. Helmerich & Payne's revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. On average, sell-side analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's dividend payout ratio is currently 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.