Scotiabank Reaffirms Hold Rating for Helmerich & Payne, Inc. (HP)
Helmerich & Payne, Inc. (NYSE:HP)‘s stock had its “hold” rating reissued by Scotiabank in a research report issued on Wednesday. They presently have a $82.00 price target on the oil and gas company’s stock. Scotiabank’s price target indicates a potential upside of 26.48% from the stock’s current price.
Other equities analysts have also issued reports about the company. Guggenheim lowered Helmerich & Payne from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 6th. Argus upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Monday, January 9th. Bank of America Corp cut Helmerich & Payne from a “buy” rating to a “neutral” rating and set a $82.00 price objective for the company. in a report on Thursday, December 8th. They noted that the move was a valuation call. Royal Bank of Canada cut Helmerich & Payne from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $83.00 to $94.00 in a report on Friday, December 16th. Finally, SunTrust Banks, Inc. began coverage on Helmerich & Payne in a report on Wednesday, January 18th. They issued a “buy” rating and a $70.00 price objective for the company. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $69.38.
Helmerich & Payne (NYSE:HP) opened at 64.83 on Wednesday. Helmerich & Payne has a 12 month low of $56.19 and a 12 month high of $85.78. The company’s 50-day moving average is $67.21 and its 200 day moving average is $70.74. The company’s market cap is $7.04 billion.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, January 26th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.05. Helmerich & Payne had a negative net margin of 7.17% and a negative return on equity of 3.34%. The company had revenue of $369 million for the quarter, compared to the consensus estimate of $332.26 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was down 24.4% compared to the same quarter last year. Equities analysts forecast that Helmerich & Payne will post ($1.27) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s payout ratio is -274.51%.
In other Helmerich & Payne news, Director Thomas A. Petrie bought 1,990 shares of Helmerich & Payne stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $67.17 per share, with a total value of $133,668.30. Following the acquisition, the director now owns 8,583 shares in the company, valued at $576,520.11. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.23% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its position in Helmerich & Payne by 6.5% in the third quarter. Capital World Investors now owns 7,919,050 shares of the oil and gas company’s stock worth $532,952,000 after buying an additional 486,400 shares during the period. American International Group Inc. increased its position in Helmerich & Payne by 4.8% in the third quarter. American International Group Inc. now owns 6,839,444 shares of the oil and gas company’s stock worth $460,295,000 after buying an additional 313,165 shares during the period. State Street Corp increased its position in Helmerich & Payne by 5.3% in the fourth quarter. State Street Corp now owns 5,927,018 shares of the oil and gas company’s stock worth $458,755,000 after buying an additional 295,670 shares during the period. BlackRock Fund Advisors increased its position in Helmerich & Payne by 3.4% in the third quarter. BlackRock Fund Advisors now owns 5,856,725 shares of the oil and gas company’s stock worth $394,158,000 after buying an additional 191,903 shares during the period. Finally, Capital International Investors increased its position in Helmerich & Payne by 17.8% in the third quarter. Capital International Investors now owns 4,390,215 shares of the oil and gas company’s stock valued at $295,461,000 after buying an additional 664,100 shares during the period.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
Receive News & Stock Ratings for Helmerich & Payne Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne Inc. and related stocks with our FREE daily email newsletter.