Helmerich & Payne (NYSE:HP) Price Target Cut to $54.00 by Analysts at JPMorgan Chase & Co.

Helmerich & Payne (NYSE:HP) had its target price cut by JPMorgan Chase & Co. from $64.00 to $54.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other analysts have also recently commented on HP. Royal Bank of Canada set a $65.00 target price on shares of Helmerich & Payne and gave the company a buy rating in a report on Friday, July 26th. AltaCorp Capital restated an outperform rating on shares of Helmerich & Payne in a report on Thursday, June 20th. ValuEngine cut shares of Helmerich & Payne from a hold rating to a sell rating in a report on Tuesday, July 2nd. Piper Jaffray Companies dropped their price target on shares of Helmerich & Payne from $57.00 to $52.50 and set an overweight rating on the stock in a research note on Tuesday, July 30th. Finally, B. Riley reiterated a buy rating and issued a $63.00 price target (down previously from $83.00) on shares of Helmerich & Payne in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Helmerich & Payne has an average rating of Hold and a consensus price target of $63.08.

Shares of HP stock traded down $0.54 during mid-day trading on Tuesday, reaching $42.71. 1,724,709 shares of the company’s stock traded hands, compared to its average volume of 1,572,360. Helmerich & Payne has a 12 month low of $41.67 and a 12 month high of $73.74. The firm has a market cap of $4.67 billion, a P/E ratio of 305.07 and a beta of 1.49. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $49.35.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. Helmerich & Payne had a negative net margin of 2.54% and a positive return on equity of 4.06%. The firm had revenue of $687.97 million for the quarter, compared to analysts’ expectations of $689.41 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that Helmerich & Payne will post 1.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Friday, August 9th. Helmerich & Payne’s dividend payout ratio (DPR) is 2,028.57%.

Large investors have recently modified their holdings of the business. SFE Investment Counsel raised its position in Helmerich & Payne by 5.5% in the 2nd quarter. SFE Investment Counsel now owns 12,975 shares of the oil and gas company’s stock worth $657,000 after buying an additional 675 shares during the last quarter. First Midwest Bank Trust Division raised its position in Helmerich & Payne by 58.3% in the 1st quarter. First Midwest Bank Trust Division now owns 19,694 shares of the oil and gas company’s stock worth $1,094,000 after buying an additional 7,254 shares during the last quarter. Wells Fargo & Company MN raised its position in Helmerich & Payne by 37.8% in the 1st quarter. Wells Fargo & Company MN now owns 639,200 shares of the oil and gas company’s stock worth $35,514,000 after buying an additional 175,406 shares during the last quarter. Rockland Trust Co. raised its position in Helmerich & Payne by 5.8% in the 1st quarter. Rockland Trust Co. now owns 16,205 shares of the oil and gas company’s stock worth $900,000 after buying an additional 888 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its position in Helmerich & Payne by 41.1% in the 1st quarter. Wealthfront Advisers LLC now owns 28,293 shares of the oil and gas company’s stock worth $1,572,000 after buying an additional 8,239 shares during the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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