Piper Jaffray Companies Cuts Helmerich & Payne (NYSE:HP) Price Target to $52.50

Helmerich & Payne (NYSE:HP) had its price objective reduced by Piper Jaffray Companies from $57.00 to $52.50 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas company’s stock. Piper Jaffray Companies also issued estimates for Helmerich & Payne’s Q4 2019 earnings at $0.28 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.34 EPS, Q4 2020 earnings at $0.38 EPS and FY2020 earnings at $1.27 EPS.

A number of other equities research analysts have also weighed in on HP. JPMorgan Chase & Co. set a $69.00 price objective on shares of Helmerich & Payne and gave the stock a buy rating in a report on Wednesday, June 5th. Royal Bank of Canada set a $65.00 price target on shares of Helmerich & Payne and gave the company a buy rating in a report on Friday, July 26th. ValuEngine lowered shares of Helmerich & Payne from a hold rating to a sell rating in a report on Tuesday, July 2nd. TheStreet lowered shares of Helmerich & Payne from a b- rating to a c+ rating in a report on Tuesday, May 28th. Finally, AltaCorp Capital reiterated an outperform rating on shares of Helmerich & Payne in a report on Thursday, June 20th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Helmerich & Payne presently has a consensus rating of Hold and a consensus price target of $63.92.

Shares of HP traded down $0.74 during mid-day trading on Tuesday, reaching $46.17. The company’s stock had a trading volume of 16,089 shares, compared to its average volume of 1,273,023. The firm has a market capitalization of $5.41 billion, a PE ratio of 326.73 and a beta of 1.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 2.86. Helmerich & Payne has a 52 week low of $44.56 and a 52 week high of $73.74. The stock’s fifty day moving average price is $50.13.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The firm had revenue of $687.97 million during the quarter, compared to analyst estimates of $689.41 million. Helmerich & Payne had a negative net margin of 2.54% and a positive return on equity of 4.06%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) EPS. As a group, sell-side analysts expect that Helmerich & Payne will post 1.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.84 dividend on an annualized basis and a yield of 6.15%. Helmerich & Payne’s dividend payout ratio is currently 2,028.57%.

A number of institutional investors have recently modified their holdings of HP. Municipal Employees Retirement System of Michigan purchased a new position in Helmerich & Payne during the 4th quarter valued at $134,000. Legal & General Group Plc increased its position in Helmerich & Payne by 6.6% during the 4th quarter. Legal & General Group Plc now owns 570,312 shares of the oil and gas company’s stock valued at $27,340,000 after purchasing an additional 35,490 shares during the period. Macquarie Group Ltd. increased its position in Helmerich & Payne by 9,548.1% during the 4th quarter. Macquarie Group Ltd. now owns 115,777 shares of the oil and gas company’s stock valued at $5,550,000 after purchasing an additional 114,577 shares during the period. FMR LLC increased its position in Helmerich & Payne by 62.7% during the 4th quarter. FMR LLC now owns 235,813 shares of the oil and gas company’s stock valued at $11,304,000 after purchasing an additional 90,858 shares during the period. Finally, Norges Bank purchased a new position in Helmerich & Payne during the 4th quarter valued at $45,764,000. 90.62% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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