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.
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