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

Key Points

• Analysts have given Helmerich & Payne, Inc. a consensus rating of "Reduce," with three sell ratings, nine hold recommendations, and two buy ratings, while the average target price is $24.20.
• The company reported a 49.2% year-over-year increase in quarterly revenue, with earnings per share of $0.22, surpassing analysts' expectations of $0.20.
• Helmerich & Payne will pay a quarterly dividend of $0.25 on December 2nd, representing an annualized yield of 3.9% based on the recently reported financials.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have been given a consensus rating of "Reduce" by the fourteen research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.20.

Several analysts have recently weighed in on HP shares. Zacks Research upgraded shares of Helmerich & Payne to a "hold" rating in a research report on Monday, August 11th. TD Cowen raised their price target on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Helmerich & Payne in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on Helmerich & Payne from $18.00 to $20.00 and gave the company a "sell" rating in a research report on Monday, October 6th. Finally, Piper Sandler boosted their target price 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 Activity at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction on Monday, August 18th. The shares were sold at an average price of $17.83, for a total value of $119,461.00. Following the transaction, the chief accounting officer owned 21,908 shares in the company, valued at $390,619.64. This trade represents a 23.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.51% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System lifted its stake in shares of Helmerich & Payne by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company's stock valued at $2,203,000 after acquiring an additional 400 shares during the last quarter. Benjamin Edwards Inc. increased its stake in Helmerich & Payne by 12.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 31,317 shares of the oil and gas company's stock worth $692,000 after purchasing an additional 3,349 shares during the period. SG Americas Securities LLC lifted its position in Helmerich & Payne by 120.4% in the third quarter. SG Americas Securities LLC now owns 23,031 shares of the oil and gas company's stock valued at $509,000 after purchasing an additional 12,582 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 554 shares during the period. Finally, Ethic Inc. grew its holdings in shares of Helmerich & Payne by 19.0% in the third quarter. Ethic Inc. now owns 12,371 shares of the oil and gas company's stock worth $273,000 after purchasing an additional 1,975 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Down 0.1%

Shares of NYSE HP opened at $25.67 on Friday. 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 business has a 50-day moving average of $21.53 and a 200-day moving average of $18.87. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -77.79 and a beta of 0.91. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm posted $0.92 earnings per share. Helmerich & Payne's quarterly revenue was up 49.2% on a year-over-year basis. Sell-side analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. Helmerich & Payne's dividend payout ratio is -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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