Helmerich & Payne’s (HP) “In-Line” Rating Reaffirmed at Evercore ISI

Evercore ISI reaffirmed their in-line rating on shares of Helmerich & Payne (NYSE:HP) in a report released on Wednesday morning, Marketbeat.com reports. They currently have a $39.00 price objective on the oil and gas company’s stock, down from their previous price objective of $48.00.

Other equities analysts have also recently issued research reports about the stock. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Royal Bank of Canada reduced their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. Finally, Barclays reduced their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.50.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $36.75 on Wednesday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 4.22 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.11. The firm’s 50-day simple moving average is $33.68 and its two-hundred day simple moving average is $34.19.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, equities analysts forecast that Helmerich & Payne will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 annualized dividend and a yield of 2.72%. Helmerich & Payne’s payout ratio is presently 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 643 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Helmerich & Payne by 127.8% in the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares during the last quarter. Quarry LP bought a new stake in shares of Helmerich & Payne in the 3rd quarter worth approximately $48,000. Eastern Bank bought a new stake in shares of Helmerich & Payne in the 3rd quarter worth approximately $61,000. Finally, Steph & Co. bought a new stake in shares of Helmerich & Payne in the 4th quarter worth approximately $87,000. 96.05% of the stock is currently 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.