Jefferies Group Reiterates “$58.00” Price Target for Helmerich & Payne (NYSE:HP)

Jefferies Group set a $58.00 price objective on Helmerich & Payne (NYSE:HP) in a report released on Saturday, November 18th. The firm currently has a hold rating on the oil and gas company’s stock.

HP has been the topic of a number of other research reports. Deutsche Bank assumed coverage on Helmerich & Payne in a research note on Tuesday, October 10th. They set a hold rating and a $45.00 target price on the stock. Royal Bank Of Canada set a $57.00 price objective on Helmerich & Payne and gave the stock a sector perform rating in a research note on Friday, November 17th. UBS reaffirmed a buy rating and set a $60.00 target price (down previously from $84.00) on shares of Helmerich & Payne in a research report on Monday, July 31st. Cowen set a $50.00 target price on Helmerich & Payne and gave the company a hold rating in a research report on Wednesday, October 18th. Finally, Sanford C. Bernstein reiterated an outperform rating and set a $66.00 price objective on shares of Helmerich & Payne in a report on Wednesday, September 6th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $54.92.

Helmerich & Payne (NYSE:HP) traded down $1.37 during trading hours on Friday, hitting $56.47. The company had a trading volume of 1,451,468 shares, compared to its average volume of 1,842,792. The company has a current ratio of 3.59, a quick ratio of 3.19 and a debt-to-equity ratio of 0.12. Helmerich & Payne has a 12 month low of $42.16 and a 12 month high of $85.78.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Helmerich & Payne had a negative return on equity of 2.96% and a negative net margin of 7.16%. The company had revenue of $532.30 million for the quarter, compared to the consensus estimate of $493.78 million. During the same period in the previous year, the business earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 60.5% on a year-over-year basis. equities research analysts anticipate that Helmerich & Payne will post -0.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 13th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, November 10th. Helmerich & Payne’s payout ratio is -233.33%.

In other Helmerich & Payne news, CEO John W. Lindsay bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were acquired at an average cost of $47.73 per share, with a total value of $238,650.00. Following the purchase, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.23% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Ffcm LLC raised its position in shares of Helmerich & Payne by 409.2% during the 2nd quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 2,308 shares during the period. AlphaMark Advisors LLC raised its position in shares of Helmerich & Payne by 3.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 101 shares during the period. Sandy Spring Bank raised its position in shares of Helmerich & Payne by 36.7% during the 3rd quarter. Sandy Spring Bank now owns 3,540 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 950 shares during the period. Sapphire Star Partners LP purchased a new stake in shares of Helmerich & Payne during the 3rd quarter valued at approximately $202,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Helmerich & Payne during the 3rd quarter valued at approximately $206,000.

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About Helmerich & Payne

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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