Helmerich & Payne (NYSE:HP) Price Target Cut to $41.00 by Analysts at Royal Bank of Canada

Helmerich & Payne (NYSE:HP) had its price objective trimmed by Royal Bank of Canada from $44.00 to $41.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on HP. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Barclays dropped their price target on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Citigroup reduced their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and an average price target of $39.00.

Helmerich & Payne Trading Up 0.1 %

Shares of NYSE:HP opened at $33.62 on Friday. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $44.11. The company has a market cap of $3.32 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.40. The stock has a 50 day moving average of $33.53 and a 200 day moving average of $35.09. The company has a current ratio of 2.67, a quick ratio of 1.87 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. During the same period in the prior year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Helmerich & Payne will post 3.57 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced 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 2.97%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HP. Headlands Technologies LLC bought a new stake in shares of Helmerich & Payne in the 1st quarter worth about $33,000. Covestor Ltd raised its position in Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the period. Blue Trust Inc. lifted its stake 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 worth $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne during the third quarter valued at approximately $48,000. Finally, Eastern Bank purchased a new position in Helmerich & Payne during the 3rd quarter valued at $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.