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

Helmerich & Payne, Inc. (NYSE:HP) has been given an average rating of “Hold” by the eleven analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $41.88.

HP has been the topic of several research reports. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler reduced their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Royal Bank of Canada upped their price target on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $33.45 on Monday. The business has a 50 day simple moving average of $36.06 and a 200-day simple moving average of $38.12. Helmerich & Payne has a twelve month low of $32.17 and a twelve month high of $46.55. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 4.19 and a beta of 1.47. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Helmerich & Payne will post 3.51 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HP. Dimensional Fund Advisors LP boosted its stake in Helmerich & Payne by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock valued at $201,543,000 after buying an additional 176,179 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Helmerich & Payne by 9.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after purchasing an additional 327,802 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Helmerich & Payne by 15.7% in the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after purchasing an additional 471,420 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Helmerich & Payne by 8.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after buying an additional 210,321 shares in the last quarter. Finally, Boston Trust Walden Corp grew its position in Helmerich & Payne by 1.3% in the second quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock worth $80,320,000 after buying an additional 27,660 shares during the last quarter. 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.