Helmerich & Payne (NYSE:HP) Given New $39.00 Price Target at Barclays

by · The Markets Daily

Helmerich & Payne (NYSE:HP – Free Report) had its target price lowered by Barclays from $42.00 to $39.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other research analysts have also issued reports on HP. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup lowered their price target 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. Finally, Piper Sandler dropped their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.29.

Check Out Our Latest Stock Report on Helmerich & Payne

Helmerich & Payne Stock Performance

NYSE:HP opened at $34.81 on Wednesday. The stock’s 50-day moving average is $32.81 and its 200-day moving average is $36.15. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $44.11. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.44 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 3.80 and a beta of 1.42.

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

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HP. American Century Companies Inc. grew its holdings in Helmerich & Payne by 38.1% in 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. ARGA Investment Management LP raised its holdings in shares of Helmerich & Payne by 55.4% during the first quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock valued at $57,988,000 after purchasing an additional 491,589 shares during the period. Earnest Partners LLC boosted its position in shares of Helmerich & Payne by 15.7% during the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after purchasing an additional 471,420 shares in the last quarter. LSV Asset Management grew its stake in shares of Helmerich & Payne by 51.7% in the 2nd quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock valued at $42,982,000 after buying an additional 405,179 shares during the period. Finally, Pacer Advisors Inc. increased its position in Helmerich & Payne by 9.4% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

About Helmerich & Payne

(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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