Barclays Lowers Helmerich & Payne (NYSE:HP) Price Target to $36.00

Helmerich & Payne (NYSE:HP) had its price target lowered by Barclays from $39.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

A number of other brokerages have also recently weighed in on HP. 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. 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. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, Citigroup decreased their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, six have assigned 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.com, the company has a consensus rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Stock Performance

HP stock opened at $33.73 on Wednesday. The stock’s 50 day simple moving average is $33.65 and its 200 day simple moving average is $35.04. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $44.11. The firm has a market cap of $3.33 billion, a P/E ratio of 9.81, a P/E/G ratio of 3.62 and a beta of 1.40. 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 posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same period last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne will post 3.57 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.96%. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its stake in Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Helmerich & Payne by 127.8% during the third 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. Headlands Technologies LLC raised its holdings in shares of Helmerich & Payne by 96.9% during the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 757 shares during the period. Quarry LP purchased a new stake in shares of Helmerich & Payne in the 3rd quarter valued at approximately $48,000. Finally, Eastern Bank acquired a new position in Helmerich & Payne in the 3rd quarter worth approximately $61,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.