Analysts Set Helmerich & Payne, Inc. (HP) Price Target at $59.95

Shares of Helmerich & Payne, Inc. (NYSE:HP) have earned an average rating of “Hold” from the thirty-one brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.95.

HP has been the subject of a number of recent research reports. Royal Bank of Canada set a $57.00 price objective on Helmerich & Payne and gave the stock a “sector perform” rating in a report on Friday, November 17th. Tudor Pickering raised Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Citigroup raised Helmerich & Payne from a “sell” rating to a “neutral” rating in a report on Thursday, January 4th. Piper Jaffray Companies reissued a “hold” rating and set a $48.00 price objective on shares of Helmerich & Payne in a report on Friday, November 24th. Finally, Zacks Investment Research lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Monday, December 4th.

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In other Helmerich & Payne news, Director Chapman Paula Marshall sold 4,122 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $71.40, for a total transaction of $294,310.80. Following the completion of the transaction, the director now directly owns 16,647 shares of the company’s stock, valued at $1,188,595.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Helmerich & Payne by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,382,144 shares of the oil and gas company’s stock worth $124,136,000 after acquiring an additional 119,306 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Helmerich & Payne by 12.8% in the third quarter. Nordea Investment Management AB now owns 18,193 shares of the oil and gas company’s stock worth $948,000 after buying an additional 2,065 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Helmerich & Payne in the third quarter worth $469,000. BlackRock Inc. raised its position in shares of Helmerich & Payne by 1.2% in the fourth quarter. BlackRock Inc. now owns 11,346,521 shares of the oil and gas company’s stock worth $733,438,000 after buying an additional 129,250 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Helmerich & Payne by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 3,515,807 shares of the oil and gas company’s stock worth $183,208,000 after buying an additional 265,249 shares in the last quarter.

Shares of Helmerich & Payne (HP) traded up $1.92 on Wednesday, reaching $64.56. The company’s stock had a trading volume of 4,460,157 shares, compared to its average volume of 1,268,372. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.28 and a quick ratio of 2.89. The company has a market cap of $6,819.42, a price-to-earnings ratio of 17.54 and a beta of 1.31. Helmerich & Payne has a 1 year low of $42.16 and a 1 year high of $75.02.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $547.64 million. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Thursday, May 17th. Helmerich & Payne’s dividend payout ratio (DPR) is 76.09%.

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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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