Helmerich & Payne (NYSE:HP) Price Target Cut to $50.00 by Analysts at Susquehanna

Helmerich & Payne (NYSE:HP) had its price target decreased by Susquehanna from $52.00 to $50.00 in a research report sent to investors on Friday, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other equities analysts have also recently issued reports on the company. Citigroup lifted 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. Royal Bank of Canada boosted their target price on Helmerich & Payne from $46.00 to $48.00 and gave the company a sector perform rating in a report on Wednesday, January 31st. Benchmark reissued a hold rating on shares of Helmerich & Payne in a report on Thursday. The Goldman Sachs Group dropped their target price on Helmerich & Payne from $37.00 to $33.00 and set a sell rating on the stock in a report on Friday, January 12th. Finally, Barclays lowered Helmerich & Payne from an overweight rating to an equal weight rating and dropped their target price for the company from $44.00 to $40.00 in a report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Helmerich & Payne currently has an average rating of Hold and a consensus target price of $42.63.

Helmerich & Payne Stock Performance

Shares of HP opened at $40.41 on Friday. The stock has a 50-day simple moving average of $40.75 and a 200-day simple moving average of $38.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.89 and a current ratio of 2.16. The stock has a market capitalization of $3.99 billion, a PE ratio of 11.55, a PEG ratio of 1.94 and a beta of 1.51. Helmerich & Payne has a 1 year low of $30.41 and a 1 year high of $46.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.24. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. On average, analysts predict that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.16%. Helmerich & Payne’s payout ratio is 28.57%.

Institutional Trading of Helmerich & Payne

Institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its position in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Helmerich & Payne in the fourth quarter worth $35,000. Creekmur Asset Management LLC acquired a new position in shares of Helmerich & Payne in the fourth quarter worth $60,000. Lindbrook Capital LLC raised its holdings in shares of Helmerich & Payne by 26.4% in the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 355 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Helmerich & Payne in the fourth quarter worth $73,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.