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

Key Points

• Helmerich & Payne has a consensus analyst rating of "Hold", based on coverage from 12 brokerages. The average 12-month price target is $39.10, with analysts split between sell, hold, and buy views.
• The company recently reported weaker-than-expected quarterly results, posting an EPS loss of ($0.38) versus the expected loss of ($0.06), while revenue of $932.36 million also missed estimates. Revenue fell 8.2% year over year.
• Helmerich & Payne also announced a quarterly dividend of $0.25 per share, payable June 1, which implies an annualized yield of 2.6%. Shares were trading around $39.15, near the top of their 52-week range.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve brokerages that are currently covering the stock, MarketBeat reports. Two investment 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 price objective among analysts that have covered the stock in the last year is $39.10.

Several equities analysts have recently commented on the company. Citigroup upped their price target on Helmerich & Payne from $33.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, February 11th. Royal Bank Of Canada upped their price target on Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Susquehanna upped their price target on Helmerich & Payne from $42.00 to $43.00 and gave the company a "positive" rating in a research note on Friday, May 8th. TD Cowen upped their price target on Helmerich & Payne from $35.00 to $38.00 and gave the company a "hold" rating in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Friday, March 27th.

Helmerich & Payne Stock Up 1.3%

Shares of NYSE:HP opened at $39.15 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $36.15 and a two-hundred day moving average of $32.31. The stock has a market cap of $3.91 billion, a P/E ratio of -10.33 and a beta of 0.62. Helmerich & Payne has a 52-week low of $14.65 and a 52-week high of $41.68.

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 (EPS) 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 analysts' expectations 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 quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 earnings per share. On average, research analysts expect that Helmerich & Payne will post 0.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne's dividend payout ratio is -26.39%.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares of the company's stock, 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 company insiders.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently modified their holdings of HP. William B. Walkup & Associates Inc. raised its position in Helmerich & Payne by 1.0% in the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company's stock valued at $1,270,000 after purchasing an additional 355 shares in the last quarter. New York State Teachers Retirement System raised its position in 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 purchasing an additional 400 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position 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 in the last quarter. Arizona State Retirement System raised its position in Helmerich & Payne by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company's stock valued at $650,000 after purchasing an additional 416 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Helmerich & Payne by 21.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 437 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

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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