Helmerich & Payne (NYSE:HP) Given Underweight Rating at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of Helmerich & Payne (NYSE:HP) in a research note released on Thursday morning, Marketbeat reports. Morgan Stanley currently has a $27.00 target price on the oil and gas company’s stock.

Other equities analysts have also issued reports about the company. Argus raised Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays reduced their target price on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada cut their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.11.

Helmerich & Payne Price Performance

NYSE:HP opened at $25.75 on Thursday. Helmerich & Payne has a 12-month low of $23.80 and a 12-month high of $44.11. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 3.52 and a beta of 1.42. The stock’s 50 day moving average price is $28.24 and its two-hundred day moving average price is $31.65. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP) last issued 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 return on equity of 11.31% and a net margin of 11.02%. On average, analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In other news, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the acquisition, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.55 per share, with a total value of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Helmerich & Payne by 18.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock worth $13,242,000 after purchasing an additional 64,971 shares in the last quarter. Private Capital Management LLC bought a new stake in shares of Helmerich & Payne during the third quarter worth $1,095,000. Fisher Asset Management LLC increased its stake in Helmerich & Payne by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock worth $45,268,000 after buying an additional 62,377 shares during the period. Legato Capital Management LLC lifted its holdings in Helmerich & Payne by 93.9% during the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock valued at $2,436,000 after buying an additional 36,828 shares in the last quarter. Finally, Magnetar Financial LLC grew its stake in Helmerich & Payne by 389.3% in the 4th quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company’s stock worth $1,241,000 after acquiring an additional 30,833 shares in the last quarter. 96.05% of the stock is 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.