Citigroup Cuts Helmerich & Payne (NYSE:HP) Price Target to $33.00

Helmerich & Payne (NYSE:HP) had its price objective cut by Citigroup from $41.00 to $33.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Benchmark reaffirmed a hold rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Royal Bank of Canada raised their price target on Helmerich & Payne from $48.00 to $50.00 and gave the stock a sector perform rating in a research note on Friday, July 26th. Evercore ISI upgraded shares of Helmerich & Payne to a strong-buy rating in a research note on Friday, July 26th. The Goldman Sachs Group cut their target price on Helmerich & Payne from $38.00 to $34.00 and set a sell rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America cut their price objective on Helmerich & Payne from $42.50 to $40.00 and set a buy rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Helmerich & Payne currently has a consensus rating of Hold and a consensus price target of $40.88.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $30.89 on Friday. The stock has a fifty day moving average of $34.99 and a 200-day moving average of $37.36. The stock has a market cap of $3.05 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 3.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $46.24.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne will post 3.57 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 3.24%. Helmerich & Payne’s payout ratio is currently 28.57%.

Institutional Trading of Helmerich & Payne

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in Helmerich & Payne by 61.2% during the 4th quarter. BNP Paribas Financial Markets now owns 331,343 shares of the oil and gas company’s stock valued at $12,001,000 after acquiring an additional 125,768 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Helmerich & Payne during the fourth quarter valued at about $1,206,000. Gendell Jeffrey L raised its holdings in Helmerich & Payne by 44.9% in the fourth quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock worth $14,697,000 after purchasing an additional 125,671 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Helmerich & Payne during the first quarter valued at about $1,065,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Helmerich & Payne by 10.3% in the 1st quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock valued at $6,436,000 after buying an additional 14,347 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.