Helmerich & Payne, Inc. (HP) Receives $55.50 Consensus PT from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned a consensus rating of “Hold” from the twenty-eight ratings firms that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $55.81.

HP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Wednesday, November 29th. Deutsche Bank initiated coverage on shares of Helmerich & Payne in a report on Tuesday, October 10th. They set a “hold” rating and a $45.00 price target on the stock. Jefferies Group set a $50.00 price target on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Thursday, October 5th. Societe Generale initiated coverage on shares of Helmerich & Payne in a report on Thursday, August 31st. They set a “hold” rating and a $46.00 price target on the stock. Finally, Cowen reiterated a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a report on Friday, August 11th.

In related news, CEO John W. Lindsay bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the acquisition, the chief executive officer now owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of HP. Meridian Wealth Management LLC bought a new position in Helmerich & Payne in the third quarter worth approximately $217,000. Swiss National Bank raised its position in Helmerich & Payne by 3.1% in the second quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock worth $21,467,000 after acquiring an additional 11,800 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in Helmerich & Payne in the third quarter worth approximately $286,000. Brookstone Capital Management bought a new position in Helmerich & Payne in the second quarter worth approximately $284,000. Finally, Andra AP fonden raised its position in Helmerich & Payne by 65.7% in the second quarter. Andra AP fonden now owns 29,000 shares of the oil and gas company’s stock worth $1,576,000 after acquiring an additional 11,500 shares during the period.

Shares of Helmerich & Payne (HP) traded up $0.74 on Monday, reaching $57.21. 1,213,308 shares of the company’s stock were exchanged, compared to its average volume of 1,840,124. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59. Helmerich & Payne has a twelve month low of $42.16 and a twelve month high of $85.78.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. Helmerich & Payne had a negative net margin of 7.16% and a negative return on equity of 2.96%. The business had revenue of $532.30 million for the quarter, compared to analysts’ expectations of $493.78 million. During the same quarter in the prior year, the company earned ($0.33) earnings per share. The business’s revenue was up 60.5% compared to the same quarter last year. equities analysts predict that Helmerich & Payne will post -0.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, February 9th. Helmerich & Payne’s dividend payout ratio is currently -233.33%.

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Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

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