Helmerich & Payne, Inc. (NYSE:HP) has earned an average rating of “Hold” from the twenty-six research firms that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $57.10.
HP has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Friday, May 26th. Jefferies Group LLC set a $54.00 price target on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Morgan Stanley downgraded shares of Helmerich & Payne from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $85.00 to $56.00 in a report on Wednesday, June 21st. Finally, Seaport Global Securities downgraded shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $54.00 to $44.00 in a report on Wednesday, June 21st.
In other news, CEO John W. Lindsay acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were acquired at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the transaction, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.23% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank increased its position in Helmerich & Payne by 57.0% during the first quarter. Toronto Dominion Bank now owns 29,291 shares of the oil and gas company’s stock valued at $1,950,000 after acquiring an additional 10,637 shares during the last quarter. Swiss National Bank increased its position in Helmerich & Payne by 3.1% during the second quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock valued at $21,467,000 after acquiring an additional 11,800 shares during the last quarter. Bristlecone Advisors LLC increased its position in Helmerich & Payne by 2.6% during the first quarter. Bristlecone Advisors LLC now owns 19,180 shares of the oil and gas company’s stock valued at $1,277,000 after acquiring an additional 495 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Helmerich & Payne by 21.5% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,799 shares of the oil and gas company’s stock valued at $2,217,000 after acquiring an additional 7,219 shares during the last quarter. Finally, Brookstone Capital Management bought a new position in Helmerich & Payne during the second quarter valued at $284,000.
Helmerich & Payne (NYSE:HP) traded up 1.65% during mid-day trading on Wednesday, reaching $49.87. 484,760 shares of the company’s stock traded hands. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $85.78. The stock has a 50 day moving average of $46.08 and a 200 day moving average of $56.06. The company’s market cap is $5.41 billion.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, equities research analysts predict that Helmerich & Payne will post ($1.30) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Friday, November 10th. Helmerich & Payne’s dividend payout ratio (DPR) is -167.66%.
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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