Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Rating of "Reduce" from Analysts

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has been assigned an average recommendation of "Reduce" from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $23.10.

A number of equities research analysts have recently issued reports on HP shares. Wall Street Zen cut shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Susquehanna decreased their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Morgan Stanley cut their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Barclays decreased their price objective 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, June 20th.

Hedge Funds Weigh In On Helmerich & Payne

A number of large investors have recently modified their holdings of HP. Versant Capital Management Inc lifted its stake in Helmerich & Payne by 104.2% during the 1st 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 lifted its stake in Helmerich & Payne by 61.3% during the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock valued at $76,000 after acquiring an additional 907 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Helmerich & Payne by 817.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock valued at $98,000 after acquiring an additional 2,714 shares in the last quarter. Quarry LP bought a new position in Helmerich & Payne during the 1st quarter valued at $81,000. Finally, GAMMA Investing LLC lifted its stake in Helmerich & Payne by 85.4% during the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 1,459 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 2.8%

Shares of NYSE:HP traded down $0.45 during midday trading on Thursday, hitting $15.54. The stock had a trading volume of 1,671,307 shares, compared to its average volume of 1,769,220. 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. The business's 50-day simple moving average is $16.66 and its 200-day simple moving average is $22.92. The company has a market cap of $1.54 billion, a P/E ratio of 7.10 and a beta of 0.82.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. During the same period last year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, 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, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne's dividend payout ratio (DPR) is 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.