BidaskClub upgraded shares of Helmerich & Payne, Inc. (NYSE:HP) from a strong sell rating to a sell rating in a research note released on Tuesday, June 13th.
Several other analysts also recently weighed in on HP. Jefferies Group LLC set a $54.00 target price on shares of Helmerich & Payne and gave the stock a hold rating in a research report on Tuesday, June 6th. Royal Bank Of Canada restated a hold rating on shares of Helmerich & Payne in a research note on Friday, May 26th. Credit Suisse Group restated a sell rating and set a $63.00 price objective on shares of Helmerich & Payne in a research note on Thursday, March 30th. Zacks Investment Research upgraded shares of Helmerich & Payne from a hold rating to a buy rating and set a $75.00 target price for the company in a research note on Monday, April 3rd. Finally, Citigroup Inc. reiterated a neutral rating and issued a $73.00 target price (down from $83.00) on shares of Helmerich & Payne in a research note on Saturday, March 11th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $64.64.
Shares of Helmerich & Payne (HP) traded down 1.11% on Tuesday, hitting $53.47. 2,443,603 shares of the stock traded hands. Helmerich & Payne has a 52 week low of $49.46 and a 52 week high of $85.78. The stock has a 50-day moving average price of $55.97 and a 200 day moving average price of $67.86. The firm’s market cap is $5.81 billion.
Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, April 27th. The oil and gas company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.07. The company had revenue of $405.30 million for the quarter, compared to analysts’ expectations of $386.83 million. Helmerich & Payne had a negative return on equity of 3.96% and a negative net margin of 12.09%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts predict that Helmerich & Payne will post ($1.34) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 5.24%. Helmerich & Payne’s dividend payout ratio is currently -168.67%.
A number of institutional investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Helmerich & Payne by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,201 shares of the oil and gas company’s stock valued at $480,000 after buying an additional 29 shares in the last quarter. Prudential PLC raised its position in shares of Helmerich & Payne by 59.2% in the fourth quarter. Prudential PLC now owns 54,852 shares of the oil and gas company’s stock valued at $4,246,000 after buying an additional 20,390 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Helmerich & Payne by 18.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 26,195 shares of the oil and gas company’s stock valued at $2,028,000 after buying an additional 4,125 shares in the last quarter. State Street Corp raised its position in shares of Helmerich & Payne by 5.3% in the fourth quarter. State Street Corp now owns 5,927,018 shares of the oil and gas company’s stock valued at $458,755,000 after buying an additional 295,670 shares in the last quarter. Finally, Cleararc Capital Inc. bought a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $205,000.
About Helmerich & Payne
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.
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