Helmerich & Payne (NYSE:HP) Given a $58.00 Price Target by Jefferies Group Analysts

Jefferies Group set a $58.00 target price on Helmerich & Payne (NYSE:HP) in a report published on Saturday, November 18th. The brokerage currently has a hold rating on the oil and gas company’s stock.

A number of other equities research analysts have also commented on HP. Citigroup lowered Helmerich & Payne from a neutral rating to a sell rating and decreased their price target for the stock from $58.00 to $43.00 in a research report on Friday, July 28th. BidaskClub downgraded Helmerich & Payne from a sell rating to a strong sell rating in a report on Friday, July 28th. UBS reaffirmed a buy rating and set a $60.00 price objective (down previously from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Iberia Capital downgraded Helmerich & Payne from an outperform rating to a sector perform rating and reduced their price objective for the stock from $74.00 to $55.00 in a report on Monday, July 31st. Finally, Evercore ISI reissued an in-line rating and issued a $48.00 price target (down previously from $65.00) on shares of Helmerich & Payne in a research note on Tuesday, August 1st. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $54.38.

Shares of Helmerich & Payne (NYSE:HP) opened at $58.43 on Friday. Helmerich & Payne has a 12 month low of $42.16 and a 12 month high of $85.78. 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 (NYSE:HP) last released its quarterly earnings data on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $532.30 million for the quarter, compared to analyst estimates of $493.78 million. Helmerich & Payne had a negative return on equity of 2.96% and a negative net margin of 7.16%. The company’s revenue was up 60.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) EPS. research analysts anticipate that Helmerich & Payne will post -0.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 13th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Friday, November 10th. Helmerich & Payne’s payout ratio is currently -233.33%.

In other Helmerich & Payne news, CEO John W. Lindsay purchased 5,000 shares of Helmerich & Payne stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.23% of the company’s stock.

A number of hedge funds have recently modified their holdings of HP. Capital International Investors lifted its position in Helmerich & Payne by 37.2% during the third quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock worth $418,279,000 after acquiring an additional 2,177,139 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in Helmerich & Payne by 2,253.8% during the second quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock worth $116,720,000 after acquiring an additional 2,056,689 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Helmerich & Payne by 68.8% during the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after acquiring an additional 1,590,793 shares during the last quarter. Kiltearn Partners LLP lifted its position in Helmerich & Payne by 165.0% during the second quarter. Kiltearn Partners LLP now owns 2,289,302 shares of the oil and gas company’s stock worth $124,401,000 after acquiring an additional 1,425,513 shares during the last quarter. Finally, Prudential PLC lifted its position in Helmerich & Payne by 64.8% during the second quarter. Prudential PLC now owns 2,487,853 shares of the oil and gas company’s stock worth $135,190,000 after acquiring an additional 977,825 shares during the last quarter.

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About Helmerich & Payne

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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