Several other equities analysts have also recently weighed in on the company. Jefferies Group LLC reaffirmed a sell rating and set a $55.00 target price on shares of Helmerich & Payne in a research note on Wednesday, March 22nd. Scotiabank reaffirmed a hold rating and set a $82.00 target price on shares of Helmerich & Payne in a research note on Wednesday, March 22nd. Royal Bank of Canada reaffirmed a hold rating and set a $80.00 target price on shares of Helmerich & Payne in a research note on Tuesday, March 14th. Citigroup Inc reaffirmed a neutral rating and set a $73.00 target price (down previously from $83.00) on shares of Helmerich & Payne in a research note on Saturday, March 11th. Finally, Evercore ISI raised Helmerich & Payne from a hold rating to an outperform rating in a research note on Friday, March 3rd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $69.38.
Shares of Helmerich & Payne (NYSE:HP) traded down 0.09% on Thursday, hitting $64.83. 1,142,412 shares of the company were exchanged. Helmerich & Payne has a 52-week low of $56.19 and a 52-week high of $85.78. The firm’s market cap is $7.04 billion. The company has a 50-day moving average price of $67.21 and a 200 day moving average price of $70.74.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, January 26th. The oil and gas company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.05. The company earned $369 million during the quarter, compared to analysts’ expectations of $332.26 million. Helmerich & Payne had a negative return on equity of 3.34% and a negative net margin of 7.17%. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. Analysts predict that Helmerich & Payne will post ($1.26) EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 19th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -274.51%.
In other news, Director Thomas A. Petrie purchased 1,990 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $67.17 per share, with a total value of $133,668.30. Following the completion of the purchase, the director now directly owns 8,583 shares of the company’s stock, valued at approximately $576,520.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.23% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Kentucky Retirement Systems purchased a new position in shares of Helmerich & Payne during the second quarter valued at about $617,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Helmerich & Payne during the second quarter valued at about $293,000. Macquarie Group Ltd. raised its position in shares of Helmerich & Payne by 0.3% in the second quarter. Macquarie Group Ltd. now owns 52,800 shares of the oil and gas company’s stock valued at $3,545,000 after buying an additional 150 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Helmerich & Payne by 20.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 26,308 shares of the oil and gas company’s stock valued at $1,771,000 after buying an additional 4,553 shares during the period. Finally, British Columbia Investment Management Corp raised its position in shares of Helmerich & Payne by 0.3% in the third quarter. British Columbia Investment Management Corp now owns 113,136 shares of the oil and gas company’s stock valued at $7,614,000 after buying an additional 350 shares during the period.
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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