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

Key Points

• Helmerich & Payne currently has an average analyst recommendation of “Hold”, with 2 sell ratings, 5 hold ratings, and 5 buy ratings. The consensus 12-month price target is $40.60.
• The company reported a loss of $0.38 per share in its latest quarter, missing estimates, while revenue of $932.36 million also came in below expectations and fell 8.2% from a year earlier.
• Helmerich & Payne announced a quarterly dividend of $0.25 per share, equal to an annualized yield of about 2.7%. It will be paid on September 1 to shareholders of record on August 18.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has earned an average recommendation of "Hold" from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $40.60.

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an "underweight" rating in a report on Thursday, May 14th. Susquehanna increased their price target on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a "positive" rating in a report on Friday, May 8th. Evercore raised shares of Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price target on the stock in a report on Friday, March 20th. Weiss Ratings reissued a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Finally, The Goldman Sachs Group increased their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a research report on Wednesday.

Insider Activity

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares in the company, valued at $6,430,069.18. This represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Investment Consultants LLC acquired a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $225,000. Cozad Asset Management Inc. grew its position in shares of Helmerich & Payne by 19.8% during the 1st quarter. Cozad Asset Management Inc. now owns 59,435 shares of the oil and gas company's stock worth $2,141,000 after purchasing an additional 9,839 shares in the last quarter. Bank of America Corp DE grew its position in shares of Helmerich & Payne by 109.2% during the 1st quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company's stock worth $60,392,000 after purchasing an additional 874,823 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $319,000. Finally, Amundi grew its position in shares of Helmerich & Payne by 48.5% during the 1st quarter. Amundi now owns 12,283 shares of the oil and gas company's stock worth $443,000 after purchasing an additional 4,014 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Helmerich & Payne Stock Down 5.5%

Helmerich & Payne stock opened at $37.44 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of -9.88 and a beta of 0.59. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Helmerich & Payne has a twelve month low of $15.08 and a twelve month high of $41.82. The company's 50-day moving average price is $37.63 and its two-hundred day moving average price is $33.89.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm's revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. As a group, analysts expect that Helmerich & Payne will post 0.02 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio is presently -26.39%.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.

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