Analysts Set Helmerich & Payne, Inc. (NYSE:HP) PT at $40.29

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been given a consensus rating of “Hold” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given 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 brokers that have issued ratings on the stock in the last year is $39.00.

Several research analysts have weighed in on the company. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Citigroup reduced their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Royal Bank of Canada reduced their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Barclays dropped their price target on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th.

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently modified their holdings of HP. Headlands Technologies LLC acquired a new stake in Helmerich & Payne in the first quarter valued at approximately $33,000. Covestor Ltd increased its holdings in shares of Helmerich & Payne by 253.4% in the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the period. Blue Trust Inc. raised its position in Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne during the third quarter worth $48,000. Finally, Eastern Bank acquired a new position in shares of Helmerich & Payne in the 3rd quarter valued at about $61,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Price Performance

NYSE:HP opened at $33.85 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of 9.84, a P/E/G ratio of 3.84 and a beta of 1.40. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $33.48 and its two-hundred day simple moving average is $35.17. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.11.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

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.