Helmerich & Payne (NYSE:HP) Given New $27.00 Price Target at TD Cowen

Key Points

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Helmerich & Payne (NYSE:HP - Free Report) had its price target boosted by TD Cowen from $26.00 to $27.00 in a research report released on Tuesday, MarketBeat reports. The firm currently has a hold rating on the oil and gas company's stock.

A number of other research analysts have also recently issued reports on HP. Royal Bank Of Canada lifted their price objective on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Piper Sandler lifted their price objective on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Susquehanna dropped their price target on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Citigroup reissued a "neutral" rating and set a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Finally, Barclays dropped their price target on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $22.20.

Helmerich & Payne Trading Up 5.4%

Shares of HP traded up $0.9630 during trading hours on Tuesday, hitting $18.8930. 1,944,398 shares of the stock were exchanged, compared to its average volume of 2,412,916. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $37.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The business has a 50-day moving average of $16.70 and a 200-day moving average of $19.95. The firm has a market capitalization of $1.88 billion, a P/E ratio of -57.25 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business's quarterly revenue was up 49.2% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share. On average, research analysts expect that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.3%. Helmerich & Payne's dividend payout ratio is -303.03%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 1,582 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 867 shares in the last quarter. GAMMA Investing LLC grew its position in Helmerich & Payne by 29.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,092 shares of the oil and gas company's stock valued at $62,000 after purchasing an additional 925 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Helmerich & Payne during the 2nd quarter valued at about $64,000. Finally, SBI Securities Co. Ltd. grew its position in Helmerich & Payne by 27.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,940 shares of the oil and gas company's stock valued at $75,000 after purchasing an additional 1,063 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

About Helmerich & Payne

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.