Helmerich & Payne, Inc. (NYSE:HP) Given Average Rating of “Moderate Buy” by Analysts

Helmerich & Payne, Inc. (NYSE:HP – Get Rating) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $61.30.

HP has been the subject of a number of recent research reports. TheStreet downgraded shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a research note on Tuesday, December 27th. Bank of America upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating in a report on Monday, January 9th. Piper Sandler increased their target price on shares of Helmerich & Payne from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. Susquehanna increased their target price on shares of Helmerich & Payne from $62.00 to $65.00 and gave the stock a “positive” rating in a report on Friday, November 18th. Finally, Susquehanna Bancshares increased their target price on shares of Helmerich & Payne from $62.00 to $65.00 and gave the stock a “positive” rating in a report on Friday, November 18th.

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Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HP. Goldman Sachs Group Inc. raised its holdings in Helmerich & Payne by 260.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock valued at $50,222,000 after buying an additional 848,198 shares during the last quarter. Invesco Ltd. raised its holdings in Helmerich & Payne by 157.8% during the 1st quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after purchasing an additional 767,791 shares during the last quarter. Capital Research Global Investors raised its holdings in Helmerich & Payne by 83.1% during the 1st quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after purchasing an additional 579,949 shares during the last quarter. FMR LLC raised its holdings in Helmerich & Payne by 172.2% during the 2nd quarter. FMR LLC now owns 883,576 shares of the oil and gas company’s stock worth $38,047,000 after purchasing an additional 558,971 shares during the last quarter. Finally, State Street Corp raised its holdings in Helmerich & Payne by 6.7% during the 1st quarter. State Street Corp now owns 4,281,289 shares of the oil and gas company’s stock worth $183,154,000 after purchasing an additional 267,025 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

Helmerich & Payne Stock Down 0.6 %

HP opened at $49.19 on Friday. The business has a 50 day moving average price of $48.56 and a 200 day moving average price of $45.55. Helmerich & Payne has a twelve month low of $27.02 and a twelve month high of $54.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.32 and a current ratio of 2.54. The firm has a market cap of $5.18 billion, a P/E ratio of 984.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.70.

Helmerich & Payne (NYSE:HP – Get Rating) last issued its earnings results on Wednesday, November 16th. The oil and gas company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. The firm had revenue of $631.33 million during the quarter, compared to analysts’ expectations of $597.29 million. During the same period last year, the business earned ($0.62) earnings per share. Helmerich & Payne’s quarterly revenue was up 83.6% compared to the same quarter last year. Research analysts forecast that Helmerich & Payne will post 4.48 EPS for the current year.

Helmerich & Payne Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th will be paid a $0.485 dividend. This is an increase from Helmerich & Payne’s previous quarterly dividend of $0.25. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 2,000.40%.

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About Helmerich & Payne (Get Rating)

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.