Helmerich & Payne (NYSE:HP) Price Target Cut to $24.00 by Analysts at Barclays

Helmerich & Payne (NYSE:HP - Free Report) had its price target lowered by Barclays from $36.00 to $24.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company's stock.

Several other research analysts have also issued reports on the company. Citigroup upgraded Helmerich & Payne from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Evercore ISI reaffirmed an "in-line" rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Argus raised Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Royal Bank of Canada dropped their price target on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Finally, Benchmark restated a "hold" rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $37.25.

Helmerich & Payne Stock Performance

Shares of NYSE HP traded down $0.86 during mid-day trading on Wednesday, hitting $26.23. The company had a trading volume of 1,382,556 shares, compared to its average volume of 1,994,096. Helmerich & Payne has a 12 month low of $25.69 and a 12 month high of $44.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The firm has a market cap of $2.61 billion, a P/E ratio of 8.63, a PEG ratio of 3.52 and a beta of 1.37. The business's 50-day simple moving average is $31.60 and its 200-day simple moving average is $32.91.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. As a group, analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, February 14th. Helmerich & Payne's dividend payout ratio is presently 32.89%.

Insider Buying and Selling

In other news, Director Belgacem Chariag purchased 37,356 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares of the company's stock, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Lindsay purchased 20,000 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the acquisition, the chief executive officer now directly owns 691,214 shares in the company, valued at $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its position in shares of Helmerich & Payne by 13.3% in the 3rd quarter. Creative Planning now owns 23,656 shares of the oil and gas company's stock valued at $720,000 after purchasing an additional 2,774 shares during the period. Blue Trust Inc. boosted its holdings in shares of Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock valued at $46,000 after buying an additional 854 shares during the period. Raymond James & Associates increased its position in shares of Helmerich & Payne by 33.6% during the third quarter. Raymond James & Associates now owns 93,310 shares of the oil and gas company's stock worth $2,838,000 after acquiring an additional 23,459 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Helmerich & Payne by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 340,943 shares of the oil and gas company's stock worth $10,371,000 after acquiring an additional 18,147 shares during the period. Finally, Eastern Bank bought a new stake in Helmerich & Payne in the 3rd quarter valued at $61,000. 96.05% of the stock is owned by institutional investors and hedge funds.

About Helmerich & Payne

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.