Helmerich & Payne (NYSE:HP - Free Report) had its price objective trimmed by The Goldman Sachs Group from $25.00 to $17.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a sell rating on the oil and gas company's stock.
Several other research analysts also recently issued reports on the stock. TD Cowen lowered their price target on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a report on Friday, May 9th. Wall Street Zen lowered Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Susquehanna dropped their target price on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their price target on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Finally, Barclays lowered their price objective on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.55.
Read Our Latest Report on Helmerich & Payne
Helmerich & Payne Price Performance
Helmerich & Payne stock traded down $0.13 during midday trading on Tuesday, reaching $15.40. The company's stock had a trading volume of 1,702,407 shares, compared to its average volume of 1,732,971. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.53 billion, a PE ratio of 7.03 and a beta of 0.83. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $42.60. The business has a 50-day moving average price of $17.73 and a 200-day moving average price of $24.70.
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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.63). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The company's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. On average, sell-side analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.
Helmerich & Payne Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 6.49%. Helmerich & Payne's payout ratio is 45.66%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Helmerich & Payne by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company's stock valued at $143,209,000 after purchasing an additional 71,168 shares during the period. Victory Capital Management Inc. raised its stake in Helmerich & Payne by 28.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock worth $92,809,000 after buying an additional 786,250 shares during the period. Earnest Partners LLC boosted its holdings in Helmerich & Payne by 1.0% in the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company's stock worth $111,654,000 after acquiring an additional 35,013 shares in the last quarter. American Century Companies Inc. grew its stake in Helmerich & Payne by 12.2% in the first quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company's stock valued at $77,938,000 after acquiring an additional 325,484 shares during the period. Finally, Invesco Ltd. grew its stake in Helmerich & Payne by 24.7% in the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock valued at $70,632,000 after acquiring an additional 535,808 shares during the period. 96.05% of the stock is 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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