Helmerich & Payne (NYSE:HP - Free Report) had its price target reduced by The Goldman Sachs Group from $25.00 to $17.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the oil and gas company's stock.
A number of other research firms also recently commented on HP. Susquehanna cut their target price on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Wall Street Zen lowered Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. TD Cowen cut their price target on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their price target on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Morgan Stanley cut their target price on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.73.
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Helmerich & Payne Stock Performance
NYSE HP traded down $0.42 during trading hours on Tuesday, hitting $15.93. The company's stock had a trading volume of 2,666,235 shares, compared to its average volume of 1,720,624. The company's 50 day simple moving average is $17.91 and its two-hundred day simple moving average is $24.90. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $42.60. The company has a market cap of $1.58 billion, a P/E ratio of 7.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32.
Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business's revenue was up 47.7% compared to the same quarter last year. As a group, sell-side analysts expect that Helmerich & Payne will post 2.93 EPS for the current fiscal year.
Helmerich & Payne Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.28%. Helmerich & Payne's payout ratio is currently 45.66%.
Hedge Funds Weigh In On Helmerich & Payne
Hedge funds have recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its stake in Helmerich & Payne by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock worth $324,000 after purchasing an additional 395 shares during the period. LPL Financial LLC boosted its position in shares of Helmerich & Payne by 1.9% during the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock worth $697,000 after acquiring an additional 408 shares during the last quarter. Napatree Capital LLC boosted its position in shares of Helmerich & Payne by 2.5% during the fourth quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company's stock worth $668,000 after acquiring an additional 511 shares during the last quarter. Ellis Investment Partners LLC boosted its position in shares of Helmerich & Payne by 4.5% during the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock worth $340,000 after acquiring an additional 558 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its position in shares of Helmerich & Payne by 4.4% during the first quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company's stock worth $350,000 after acquiring an additional 569 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.
About Helmerich & Payne
(
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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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