Helmerich & Payne’s (HP) Hold Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of Helmerich & Payne (NYSE:HP) in a research report report published on Thursday morning,Benzinga reports.

HP has been the subject of a number of other research reports. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada dropped their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. Barclays decreased their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday. Citigroup dropped their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, The Goldman Sachs Group reduced their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.57.

Helmerich & Payne Price Performance

HP stock opened at $36.06 on Thursday. The stock has a market cap of $3.56 billion, a PE ratio of 10.48, a P/E/G ratio of 4.09 and a beta of 1.40. Helmerich & Payne has a 12 month low of $29.46 and a 12 month high of $44.11. The company has a 50-day moving average price of $33.86 and a 200 day moving average price of $35.00. The company has a current ratio of 2.67, a quick ratio of 2.40 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 the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter last year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne will post 3.21 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s payout ratio is 29.07%.

Institutional Trading of Helmerich & Payne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HP. Covestor Ltd raised its stake in shares of Helmerich & Payne by 253.4% in the first 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 last quarter. Blue Trust Inc. lifted its stake in Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 854 shares during the period. Quarry LP purchased a new stake in shares of Helmerich & Payne in the 3rd quarter valued at $48,000. Headlands Technologies LLC increased its stake in shares of Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 757 shares during the period. Finally, Eastern Bank purchased a new position in shares of Helmerich & Payne during the third quarter worth $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.