Helmerich & Payne, Inc. (NYSE:HP) Given Average Recommendation of “Reduce” by Analysts (2024)

Shares of Helmerich & Payne, Inc. (NYSE:HP – Get Free Report) have received a consensus rating of “Reduce” from the nine analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $42.29.

HP has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Citigroup boosted their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Susquehanna dropped their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Finally, Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th.

Read Our Latest Analysis on HP

Helmerich & Payne Trading Down 1.9 %

NYSE HP opened at $35.35 on Friday. The firm has a market capitalization of $3.49 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 3.97 and a beta of 1.47. The business’s 50-day moving average price is $36.59 and its two-hundred day moving average price is $37.94. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a 12 month low of $32.17 and a 12 month high of $46.55.

Helmerich & Payne (NYSE:HP – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The business had revenue of $687.94 million during the quarter, compared to analyst estimates of $682.51 million. During the same period last year, the firm posted $1.26 earnings per share. Helmerich & Payne’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, analysts expect that Helmerich & Payne will post 3.46 EPS for the current year.

Helmerich & Payne Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.83%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Smith sold 16,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Helmerich & Payne by 57.7% during the third quarter. AQR Capital Management LLC now owns 148,453 shares of the oil and gas company’s stock worth $6,259,000 after acquiring an additional 54,302 shares during the last quarter. Alps Advisors Inc. acquired a new position in Helmerich & Payne during the third quarter worth $324,000. Penserra Capital Management LLC acquired a new position in shares of Helmerich & Payne during the 3rd quarter worth about $818,000. Comerica Bank purchased a new position in shares of Helmerich & Payne in the third quarter valued at approximately $4,294,000. Finally, American Century Companies Inc. lifted its holdings in Helmerich & Payne by 78.1% in the 3rd quarter. American Century Companies Inc. now owns 509,006 shares of the oil and gas company’s stock valued at $21,460,000 after purchasing an additional 223,171 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

(Get Free Report

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.

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