Helmerich & Payne (NYSE:HP) Earns “Buy” Rating from Credit Suisse Group

Credit Suisse Group reaffirmed their buy rating on shares of Helmerich & Payne (NYSE:HP) in a report released on Thursday, AnalystRatings.com reports. They currently have a $20.00 price target on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the company. Citigroup upped their target price on Helmerich & Payne from $14.30 to $19.30 and gave the company a neutral rating in a research note on Thursday, May 28th. Stephens raised their target price on Helmerich & Payne from $20.00 to $25.00 and gave the company an overweight rating in a research report on Friday, June 26th. Wells Fargo & Co dropped their target price on Helmerich & Payne from $20.00 to $14.00 and set an underweight rating on the stock in a research report on Monday, April 6th. B. Riley decreased their price target on shares of Helmerich & Payne from $39.00 to $26.00 and set a neutral rating on the stock in a research note on Thursday, May 7th. Finally, Sanford C. Bernstein raised shares of Helmerich & Payne from a market perform rating to an outperform rating in a research note on Monday, April 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $27.78.

NYSE HP traded down $0.22 during trading hours on Thursday, hitting $17.83. 2,520,628 shares of the company were exchanged, compared to its average volume of 1,910,420. The stock has a 50-day moving average price of $19.70 and a 200 day moving average price of $25.43. The company has a quick ratio of 2.67, a current ratio of 4.09 and a debt-to-equity ratio of 0.14. Helmerich & Payne has a 52 week low of $12.40 and a 52 week high of $50.34. The stock has a market cap of $1.92 billion, a PE ratio of -4.86 and a beta of 2.10.

Helmerich & Payne (NYSE:HP) last released its earnings results on Tuesday, July 28th. The oil and gas company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.31. The firm had revenue of $317.36 million for the quarter, compared to analysts’ expectations of $322.38 million. Helmerich & Payne had a positive return on equity of 0.61% and a negative net margin of 17.81%. The company’s quarterly revenue was down 53.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Helmerich & Payne will post -1.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 5.61%. Helmerich & Payne’s dividend payout ratio (DPR) is 162.29%.

Several large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its holdings in shares of Helmerich & Payne by 726.2% in the fourth quarter. Quadrant Capital Group LLC now owns 851 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 748 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Helmerich & Payne in the first quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Helmerich & Payne by 312.6% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,807 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,369 shares during the last quarter. Ellevest Inc. raised its holdings in shares of Helmerich & Payne by 89.5% in the first quarter. Ellevest Inc. now owns 2,096 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 990 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in shares of Helmerich & Payne in the second quarter valued at about $43,000. Institutional investors and hedge funds own 92.00% of the company’s stock.

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.

Further Reading: What is meant by a buy rating?

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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