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

Key Points

• Analysts have a consensus “Hold” rating on Helmerich & Payne, with two sell, five hold and five buy recommendations. The average 12-month price target is $39.80, compared with the stock’s reported price of $35.29.
• Helmerich & Payne missed quarterly expectations, reporting an adjusted loss of $0.38 per share versus the $0.06 loss analysts expected, while revenue fell 8.2% year over year to $932.36 million.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a reported 2.8% yield; institutional investors own approximately 96.05% of the stock.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.80.

Several research firms have recently issued reports on HP. Barclays boosted their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Weiss Ratings reissued a "sell (d+)" rating on shares of Helmerich & Payne in a report on Wednesday, June 24th. Citigroup dropped their target price on Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Finally, Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, May 18th.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently bought and sold shares of the company. William B. Walkup & Associates Inc. increased its holdings in Helmerich & Payne by 1.0% during the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company's stock worth $1,270,000 after acquiring an additional 355 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Helmerich & Payne by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company's stock valued at $653,000 after purchasing an additional 400 shares during the period. Hantz Financial Services Inc. boosted its holdings in Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 445 shares during the period. Cerity Partners LLC grew its position in shares of Helmerich & Payne by 2.6% during the 4th quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company's stock valued at $555,000 after purchasing an additional 498 shares in the last quarter. Finally, KLCM Advisors Inc. increased its holdings in shares of Helmerich & Payne by 5.5% in the fourth quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company's stock worth $303,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Trading Down 0.1%

Shares of Helmerich & Payne stock opened at $35.29 on Monday. The stock has a market capitalization of $3.53 billion, a P/E ratio of -9.31 and a beta of 0.60. Helmerich & Payne has a 52-week low of $15.17 and a 52-week high of $41.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The stock's 50-day simple moving average is $36.02 and its 200 day simple moving average is $35.43.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.32). The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.Helmerich & Payne's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, research analysts anticipate that Helmerich & Payne will post -0.11 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. Helmerich & Payne's dividend payout ratio is currently -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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