Helmerich & Payne, Inc. (NYSE:HP) Receives Average Rating of "Hold" from Brokerages

Key Points

• Helmerich & Payne, Inc. has received a consensus rating of "Hold" from thirteen brokerages, with two analysts recommending a sell, nine a hold, and two a buy.
• The company has reported a 49.2% increase in quarterly revenue year-over-year, reaching $1.04 billion, with earnings per share surpassing estimates.
• Helmerich & Payne will pay a quarterly dividend of $0.25 per share on December 2nd, representing an annualized yield of 4.5% despite a negative dividend payout ratio.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have received a consensus rating of "Hold" from the thirteen brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.00.

HP has been the subject of several recent research reports. TD Cowen raised their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada increased their price target on shares of Helmerich & Payne from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Citigroup reissued a "neutral" rating and set a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Susquehanna cut their price objective 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. Finally, Piper Sandler boosted their price target on Helmerich & Payne from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th.

Insider Transactions at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the sale, the chief accounting officer directly owned 21,908 shares of the company's stock, valued at approximately $390,619.64. This represents a 23.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently made changes to their positions in HP. EverSource Wealth Advisors LLC lifted its position in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 1,582 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 867 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Helmerich & Payne by 29.2% during the second quarter. GAMMA Investing LLC now owns 4,092 shares of the oil and gas company's stock valued at $62,000 after purchasing an additional 925 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Helmerich & Payne during the second quarter valued at $64,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Helmerich & Payne by 27.4% during the second quarter. SBI Securities Co. Ltd. now owns 4,940 shares of the oil and gas company's stock valued at $75,000 after buying an additional 1,063 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

NYSE:HP opened at $22.32 on Tuesday. Helmerich & Payne has a twelve month low of $14.65 and a twelve month high of $37.46. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm's fifty day simple moving average is $19.02 and its 200 day simple moving average is $18.93. The stock has a market cap of $2.22 billion, a P/E ratio of -67.64 and a beta of 0.95.

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 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business posted $0.92 earnings per share. Helmerich & Payne's quarterly revenue was up 49.2% compared to the same quarter last year. As a group, research analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. Helmerich & Payne's dividend payout ratio (DPR) is presently -303.03%.

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.

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