Helmerich & Payne (NYSE:HP) Price Target Cut to $35.00 by Analysts at Royal Bank of Canada

Helmerich & Payne (NYSE:HP) had its target price reduced by Royal Bank of Canada from $41.00 to $35.00 in a research report released on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the oil and gas company’s stock.

Several other brokerages have also recently weighed in on HP. Evercore ISI reissued an “in-line” rating and set a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $38.75.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $26.81 on Friday. Helmerich & Payne has a 52-week low of $26.75 and a 52-week high of $44.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 2.81. The firm’s fifty day moving average is $33.12 and its two-hundred day moving average is $33.73. The company has a market cap of $2.66 billion, a P/E ratio of 8.82, a P/E/G ratio of 3.41 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, analysts anticipate that Helmerich & Payne will post 3.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.73%. Helmerich & Payne’s payout ratio is 32.89%.

Institutional Trading of Helmerich & Payne

A number of institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth $27,000. Covestor Ltd lifted its holdings in shares of Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Blue Trust Inc. boosted its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 854 shares during the last quarter. Quarry LP acquired a new position in Helmerich & Payne in the 3rd quarter worth approximately $48,000. Finally, Eastern Bank acquired a new stake in Helmerich & Payne during the 3rd quarter valued at approximately $61,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.