Helmerich & Payne, Inc. (NYSE:HP) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have been assigned an average rating of "Hold" from the eleven analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $34.22.

HP has been the topic of several analyst reports. Citigroup dropped their price target on shares of Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday. Argus upgraded Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Morgan Stanley restated an "underweight" rating and issued a $27.00 price target on shares of Helmerich & Payne in a research report on Thursday, March 27th. Evercore ISI reaffirmed an "in-line" rating and issued a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada cut their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the acquisition, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now directly owns 691,214 shares of the company's stock, valued at $19,042,945.70. The trade was 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 corporate insiders.

Institutional Investors Weigh In On Helmerich & Payne

Several institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne during the 4th quarter worth about $27,000. Versant Capital Management Inc boosted its position in shares of Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after buying an additional 867 shares during the period. Quarry LP bought a new position in shares of Helmerich & Payne during the third quarter valued at approximately $48,000. Covestor Ltd raised its holdings in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock worth $76,000 after buying an additional 907 shares during the period. Finally, Steph & Co. bought a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $87,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Performance

Shares of HP traded up $0.76 during trading hours on Tuesday, hitting $19.18. The stock had a trading volume of 2,071,002 shares, compared to its average volume of 1,504,471. The firm has a market capitalization of $1.91 billion, a PE ratio of 6.31, a PEG ratio of 3.52 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. Helmerich & Payne has a 12 month low of $17.82 and a 12 month high of $43.41. The stock has a fifty day moving average price of $25.13 and a 200 day moving average price of $30.80.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.21%. Helmerich & Payne's dividend payout ratio (DPR) is 32.89%.

Helmerich & Payne Company Profile

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.