Citigroup Raises Helmerich & Payne (NYSE:HP) Price Target to $42.00

Helmerich & Payne (NYSE:HP) had its target price upped by Citigroup from $40.00 to $42.00 in a report released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other research firms have also recently issued reports on HP. Piper Sandler increased their price target on Helmerich & Payne from $41.00 to $44.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Susquehanna raised their target price on Helmerich & Payne from $50.00 to $52.00 and gave the company a positive rating in a research note on Monday, April 8th. Benchmark cut shares of Helmerich & Payne from a buy rating to a hold rating in a research report on Tuesday, January 16th. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $37.00 to $33.00 and set a sell rating for the company in a research report on Friday, January 12th. Finally, Barclays cut shares of Helmerich & Payne from an overweight rating to an equal weight rating and lowered their price objective for the stock from $44.00 to $40.00 in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Helmerich & Payne currently has a consensus rating of Hold and a consensus price target of $42.88.

Helmerich & Payne Stock Up 1.9 %

Shares of Helmerich & Payne stock opened at $41.97 on Tuesday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.97 and a beta of 1.51. Helmerich & Payne has a twelve month low of $30.41 and a twelve month high of $46.55. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $40.41 and its 200-day simple moving average is $38.64.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $661.81 million. During the same period last year, the business posted $1.11 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Helmerich & Payne will post 3.59 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 4.00%. Helmerich & Payne’s dividend payout ratio is 23.87%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HP. Global Alpha Capital Management Ltd. lifted its holdings in shares of Helmerich & Payne by 51.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 559,491 shares of the oil and gas company’s stock valued at $23,588,000 after buying an additional 190,400 shares during the last quarter. Boston Trust Walden Corp grew its position in Helmerich & Payne by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after acquiring an additional 34,863 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of Helmerich & Payne by 92.7% during the 3rd quarter. Gotham Asset Management LLC now owns 59,596 shares of the oil and gas company’s stock worth $2,513,000 after purchasing an additional 28,675 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Helmerich & Payne during the 3rd quarter valued at $1,053,000. Finally, Deutsche Bank AG lifted its stake in shares of Helmerich & Payne by 37.4% in the 3rd quarter. Deutsche Bank AG now owns 61,596 shares of the oil and gas company’s stock valued at $2,597,000 after purchasing an additional 16,774 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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.