Shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) gapped up before the market opened on Tuesday after Evercore ISI raised their price target on the stock to $67.00. The stock had previously closed at $51.24, but opened at $52.93. Helmerich & Payne shares last traded at $52.97, with a volume of 5,932 shares.
Other equities analysts have also issued reports about the stock. Susquehanna Bancshares increased their price objective on shares of Helmerich & Payne from $62.00 to $65.00 and gave the company a “positive” rating in a report on Friday. Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler increased their price objective on shares of Helmerich & Payne from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Friday. Barclays increased their price objective on shares of Helmerich & Payne to $65.00 in a report on Monday. Finally, TheStreet upgraded shares of Helmerich & Payne from a “c” rating to a “b-” rating in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Helmerich & Payne presently has an average rating of “Moderate Buy” and a consensus price target of $60.55.
Insider Buying and Selling at Helmerich & Payne
In other news, SVP Raymond John Adams III sold 1,500 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $47.50, for a total transaction of $71,250.00. Following the completion of the sale, the senior vice president now owns 52,935 shares of the company’s stock, valued at $2,514,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP John R. Bell sold 4,314 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the sale, the senior vice president now owns 117,395 shares of the company’s stock, valued at $5,869,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Raymond John Adams III sold 1,500 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total transaction of $71,250.00. Following the sale, the senior vice president now directly owns 52,935 shares of the company’s stock, valued at approximately $2,514,412.50. The disclosure for this sale can be found here. Insiders own 4.35% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in HP. Goldman Sachs Group Inc. grew its position in Helmerich & Payne by 260.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock valued at $50,222,000 after purchasing an additional 848,198 shares in the last quarter. Invesco Ltd. lifted its stake in Helmerich & Payne by 157.8% in the first quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock valued at $53,667,000 after acquiring an additional 767,791 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Helmerich & Payne in the first quarter valued at $30,235,000. Capital Research Global Investors lifted its stake in Helmerich & Payne by 83.1% in the first quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock valued at $54,683,000 after acquiring an additional 579,949 shares during the last quarter. Finally, FMR LLC lifted its stake in Helmerich & Payne by 172.2% in the second quarter. FMR LLC now owns 883,576 shares of the oil and gas company’s stock valued at $38,047,000 after acquiring an additional 558,971 shares during the last quarter. Institutional investors own 94.61% of the company’s stock.
Helmerich & Payne Trading Up 3.4 %
The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 1,025.01 and a beta of 1.75. The company has a quick ratio of 2.32, a current ratio of 2.54 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $45.06 and its 200 day simple moving average is $44.58.
Helmerich & Payne (NYSE:HP – Get Rating) last announced its quarterly earnings results on Thursday, November 17th. The oil and gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $631.33 million during the quarter, compared to analysts’ expectations of $597.29 million. Helmerich & Payne had a net margin of 0.34% and a return on equity of 0.45%. The company’s revenue for the quarter was up 83.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.62) earnings per share. On average, research analysts expect that Helmerich & Payne, Inc. will post 3.77 EPS for the current fiscal year.
Helmerich & Payne Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 14th. Helmerich & Payne’s dividend payout ratio is presently 2,000.40%.
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.