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

Key Points

• Helmerich & Payne, Inc. (NYSE:HP) has received an average consensus rating of "Reduce" from brokerages, with two firms issuing sell ratings and one giving a buy rating.
• Royal Bank Of Canada has increased its target price for the company's shares from $23.00 to $24.00, while JPMorgan Chase & Co. cut their target price significantly from $25.00 to $17.00.
• Helmerich & Payne announced a quarterly dividend of $0.25 per share, which reflects an annual yield of 5.8%, despite a payout ratio of -303.03%.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have been assigned a consensus rating of "Reduce" from the twelve ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $22.00.

Several brokerages have recently commented on HP. Royal Bank Of Canada increased their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday. TD Cowen lowered their target price on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a report on Friday, May 9th. Susquehanna lowered their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. 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 report on Wednesday, May 28th. Finally, Citigroup reiterated a "neutral" rating and set a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HP. Raymond James Financial Inc. bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at about $2,788,000. Principal Financial Group Inc. increased its position in shares of 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 valued at $12,925,000 after buying an additional 15,990 shares during the period. Grace & White Inc. NY increased its position in shares of 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 valued at $2,960,000 after buying an additional 32,856 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Helmerich & Payne by 26.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 468,757 shares of the oil and gas company's stock valued at $12,422,000 after buying an additional 97,388 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after buying an additional 1,459 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Performance

NYSE HP opened at $17.26 on Monday. The company has a fifty day simple moving average of $16.58 and a 200 day simple moving average of $20.90. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $37.46. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.72 billion, a P/E ratio of -52.30 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1 billion. During the same period last year, the business earned $0.92 EPS. The business's revenue was up 49.2% on a year-over-year basis. Sell-side analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's payout ratio is currently -303.03%.

About Helmerich & Payne

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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