Helmerich & Payne, Inc. (HP) Receives Consensus Recommendation of “Hold” from Brokerages

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%.

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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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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