Helmerich & Payne (NYSE:HP) PT Raised to $42.00

Helmerich & Payne (NYSE:HP) had its target price boosted by Citigroup from $40.00 to $42.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Other research analysts have also recently issued reports about the company. Susquehanna increased their price target on Helmerich & Payne from $50.00 to $52.00 and gave the company a positive rating in a research report on Monday, April 8th. Barclays downgraded Helmerich & Payne from an overweight rating to an equal weight rating and cut their price objective for the company from $44.00 to $40.00 in a report on Wednesday, January 10th. Benchmark cut shares of Helmerich & Payne from a buy rating to a hold rating in a research note on Tuesday, January 16th. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a sell rating on the stock in a research report on Friday, January 12th. Finally, Piper Sandler lifted their price objective 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne has an average rating of Hold and a consensus price target of $42.88.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $41.97 on Tuesday. Helmerich & Payne has a 12 month low of $30.41 and a 12 month high of $46.55. The company’s fifty day simple moving average is $40.41 and its 200-day simple moving average is $38.64. The firm has a market cap of $4.15 billion, a PE ratio of 10.02, a P/E/G ratio of 1.97 and a beta of 1.51. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 0.20.

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

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s payout ratio is 23.87%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its position in Helmerich & Payne by 221.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock worth $26,000 after buying an additional 367 shares during the period. Principal Securities Inc. acquired a new position in shares of Helmerich & Payne in the fourth quarter valued at about $35,000. Hexagon Capital Partners LLC increased its position in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 787 shares during the period. Quarry LP acquired a new stake in Helmerich & Payne in the 1st quarter worth about $43,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in Helmerich & Payne in the 4th quarter valued at about $45,000. 96.05% of the stock is 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.