Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Rating of “Reduce” from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has been assigned an average recommendation of “Reduce” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $42.29.

Several equities research analysts have recently issued reports on HP shares. Piper Sandler decreased their price objective on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Citigroup lifted their target price on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Susquehanna reduced their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of HP. Headlands Technologies LLC purchased a new stake in shares of Helmerich & Payne during the first quarter worth about $33,000. Principal Securities Inc. purchased a new stake in shares of Helmerich & Payne during the fourth quarter worth about $35,000. Hexagon Capital Partners LLC increased its position in shares of 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 last quarter. Covestor Ltd increased its position in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares during the last quarter. Finally, Whittier Trust Co. increased its position in shares of Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 595 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Price Performance

HP stock opened at $37.60 on Friday. Helmerich & Payne has a 52-week low of $32.17 and a 52-week high of $46.55. The stock’s fifty day simple moving average is $36.34 and its 200-day simple moving average is $37.93. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business had revenue of $687.94 million for the quarter, compared to analyst estimates of $682.51 million. During the same quarter last year, the business earned $1.26 EPS. Helmerich & Payne’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts expect that Helmerich & Payne will post 3.46 EPS for the current year.

Helmerich & Payne Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

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.