Analysts Set Helmerich & Payne, Inc. (NYSE:HP) Target Price at $40.88

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) have been given a consensus rating of "Hold" by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $40.88.

A number of equities research analysts recently issued reports on HP shares. Evercore ISI upgraded shares of Helmerich & Payne to a "strong-buy" rating in a report on Friday, July 26th. Citigroup decreased their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, September 13th. The Goldman Sachs Group decreased their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a report on Thursday, August 29th. Bank of America decreased their price target on shares of Helmerich & Payne from $42.50 to $40.00 and set a "buy" rating for the company in a report on Monday, July 15th. Finally, Royal Bank of Canada upped their price target on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Friday, July 26th.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Helmerich & Payne by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company's stock worth $201,543,000 after acquiring an additional 176,179 shares in the last quarter. Pacer Advisors Inc. grew its position in Helmerich & Payne by 9.4% during the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company's stock valued at $138,302,000 after buying an additional 327,802 shares during the period. Earnest Partners LLC grew its position in Helmerich & Payne by 15.7% during the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company's stock valued at $125,392,000 after buying an additional 471,420 shares during the period. Boston Trust Walden Corp boosted its position in Helmerich & Payne by 1.3% during the second quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company's stock worth $80,320,000 after purchasing an additional 27,660 shares during the period. Finally, American Century Companies Inc. boosted its position in Helmerich & Payne by 38.1% during the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company's stock worth $67,306,000 after purchasing an additional 513,647 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 5.3 %

NYSE:HP traded down $1.93 during trading hours on Tuesday, hitting $34.07. 1,786,775 shares of the stock traded hands, compared to its average volume of 1,386,960. The firm has a 50 day moving average price of $32.80 and a 200 day moving average price of $36.27. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.80. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 3.80 and a beta of 1.42.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business had revenue of $697.70 million for the quarter, compared to analysts' expectations of $670.78 million. During the same period in the previous year, the company posted $1.09 EPS. Helmerich & Payne's revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Helmerich & Payne will post 3.48 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, November 18th. Helmerich & Payne's dividend payout ratio (DPR) is 28.57%.

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.