Helmerich & Payne (NYSE:HP) Price Target Cut to $33.00 by Analysts at Citigroup

Helmerich & Payne (NYSE:HP) had its price objective trimmed by Citigroup from $41.00 to $33.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on HP. Bank of America dropped their target price on shares of Helmerich & Payne from $42.50 to $40.00 and set a buy rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $38.00 to $34.00 and set a sell rating for the company in a research note on Thursday, August 29th. Benchmark reiterated a hold rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Evercore ISI upgraded shares of Helmerich & Payne to a strong-buy rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the company a sector perform rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $40.88.

Helmerich & Payne Stock Up 3.5 %

Shares of HP stock opened at $30.89 on Friday. The stock’s fifty day moving average price is $34.99 and its 200 day moving average price is $37.36. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $46.24. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 3.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. During the same quarter last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Helmerich & Payne will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.24%. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in shares of Helmerich & Payne by 61.2% in the fourth quarter. BNP Paribas Financial Markets now owns 331,343 shares of the oil and gas company’s stock worth $12,001,000 after acquiring an additional 125,768 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Helmerich & Payne during the fourth quarter worth about $1,206,000. Gendell Jeffrey L raised its stake in Helmerich & Payne by 44.9% during the fourth quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock worth $14,697,000 after purchasing an additional 125,671 shares during the period. UniSuper Management Pty Ltd purchased a new position in Helmerich & Payne during the first quarter worth about $1,065,000. Finally, Russell Investments Group Ltd. boosted its holdings in Helmerich & Payne by 10.3% in the 1st quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock valued at $6,436,000 after purchasing an additional 14,347 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other 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.