Susquehanna Bancshares Trims Helmerich & Payne (NYSE:HP) Target Price to $62.00

Helmerich & Payne (NYSE:HP) had its target price reduced by Susquehanna Bancshares from $72.00 to $62.00 in a report issued on Wednesday, The Fly reports.

Other research analysts have also issued research reports about the company. Wells Fargo & Co reiterated a buy rating on shares of Helmerich & Payne in a report on Thursday, June 27th. Evercore ISI began coverage on Helmerich & Payne in a report on Thursday, June 6th. They set an outperform rating on the stock. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Jefferies Financial Group lifted their price target on Broadcom from $314.00 to $341.00 and gave the stock a buy rating in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. set a $69.00 price target on Helmerich & Payne and gave the stock a buy rating in a report on Wednesday, June 5th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $66.05.

Helmerich & Payne stock opened at $52.15 on Wednesday. The company has a fifty day moving average of $50.33. Helmerich & Payne has a 1 year low of $44.56 and a 1 year high of $73.74. The firm has a market cap of $5.66 billion, a PE ratio of 372.50 and a beta of 1.50. The company has a quick ratio of 2.37, a current ratio of 2.80 and a debt-to-equity ratio of 0.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.18. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The company had revenue of $720.87 million for the quarter, compared to analysts’ expectations of $712.29 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts predict that Helmerich & Payne will post 1.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a $0.71 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.84 annualized dividend and a yield of 5.45%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 2,028.57%.

Large investors have recently modified their holdings of the business. Park National Corp OH grew its position in shares of Helmerich & Payne by 43.5% during the first quarter. Park National Corp OH now owns 35,701 shares of the oil and gas company’s stock worth $1,984,000 after buying an additional 10,826 shares in the last quarter. Northern Trust Corp boosted its holdings in Helmerich & Payne by 0.5% in the fourth quarter. Northern Trust Corp now owns 1,240,419 shares of the oil and gas company’s stock valued at $59,467,000 after purchasing an additional 5,944 shares in the last quarter. Legal & General Group Plc boosted its holdings in Helmerich & Payne by 6.6% in the fourth quarter. Legal & General Group Plc now owns 570,312 shares of the oil and gas company’s stock valued at $27,340,000 after purchasing an additional 35,490 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Helmerich & Payne by 9.1% in the fourth quarter. State of Tennessee Treasury Department now owns 53,169 shares of the oil and gas company’s stock valued at $2,549,000 after purchasing an additional 4,432 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Helmerich & Payne by 639.2% in the fourth quarter. Captrust Financial Advisors now owns 1,264 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors own 90.62% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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