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

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have earned an average rating of "Reduce" from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $42.88.

HP has been the topic of a number of recent analyst reports. Barclays lowered shares of Helmerich & Payne from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $44.00 to $40.00 in a research report on Wednesday, January 10th. Citigroup lifted their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 16th. Susquehanna boosted their price target on shares of Helmerich & Payne from $50.00 to $52.00 and gave the company a "positive" rating in a research report on Monday, April 8th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, February 20th. Finally, Benchmark cut shares of Helmerich & Payne from a "buy" rating to a "hold" rating in a research note on Tuesday, January 16th.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Helmerich & Payne by 13,372.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company's stock valued at $101,958,000 after purchasing an additional 2,400,414 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Helmerich & Payne by 130.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company's stock valued at $98,535,000 after purchasing an additional 1,541,987 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company's stock valued at $30,487,000 after purchasing an additional 760,554 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Helmerich & Payne by 497.3% in the 4th quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company's stock valued at $32,131,000 after purchasing an additional 738,594 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Helmerich & Payne by 11,750.0% in the 4th quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company's stock valued at $20,602,000 after purchasing an additional 564,000 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Up 2.7 %

Shares of NYSE HP traded up $1.10 during mid-day trading on Tuesday, reaching $42.33. 1,333,315 shares of the company's stock traded hands, compared to its average volume of 1,295,833. The stock has a market cap of $4.18 billion, a P/E ratio of 10.10, a PEG ratio of 2.01 and a beta of 1.51. The business has a 50-day simple moving average of $40.48 and a 200 day simple moving average of $38.65. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. During the same period last year, the firm earned $1.11 earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. On average, analysts expect that Helmerich & Payne will post 3.59 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 3.97%. Helmerich & Payne's dividend payout ratio is presently 23.87%.

Helmerich & Payne Company Profile

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.