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

Key Points

• Analysts rate Helmerich & Payne “Hold” overall: Five analysts recommend buying, five recommend holding, and one recommends selling. The average 12-month price target is $41, below the stock’s cited $43.92 opening price.
• Quarterly results fell short on earnings: HP reported a loss of $0.11 per share versus the expected $0.09 profit, although revenue of $1.03 billion exceeded estimates and declined only 0.6% year over year.
• The company maintained its dividend: HP declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 2.3% yield. Recent insider transactions included stock sales by two executives, while institutional investors own 96.05% of the shares.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has earned a consensus rating of "Hold" from the eleven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.00.

HP has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an "underweight" rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of Helmerich & Payne from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Piper Sandler upped their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Finally, Susquehanna raised their price objective on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a "positive" rating in a report on Friday, August 7th.

Helmerich & Payne Trading Up 0.4%

Shares of HP opened at $43.92 on Friday. Helmerich & Payne has a 1 year low of $17.35 and a 1 year high of $45.00. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $35.78 and a 200-day simple moving average of $36.30. The stock has a market cap of $4.39 billion, a PE ratio of -31.15 and a beta of 0.61.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $987.70 million. During the same period in the prior year, the firm earned $0.22 EPS. Helmerich & Payne's quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts predict that Helmerich & Payne will post -0.12 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 dividend on an annualized basis and a yield of 2.3%. Helmerich & Payne's dividend payout ratio is -70.92%.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 5,054 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares of the company's stock, valued at approximately $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president owned 136,095 shares in the company, valued at $6,024,925.65. The trade was a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HP. Royal Bank of Canada grew its holdings in Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock worth $2,721,000 after acquiring an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Helmerich & Payne by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company's stock worth $1,531,000 after acquiring an additional 3,611 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Helmerich & Payne by 39,685.1% during the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock worth $904,000 after purchasing an additional 34,526 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock worth $247,000 after purchasing an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Helmerich & Payne by 34.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock valued at $5,575,000 after purchasing an additional 54,758 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Company Profile

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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