Helmerich & Payne (NYSE:HP) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Helmerich & Payne (NYSE:HP) in a report issued on Thursday, June 6th, Stock Target Advisor reports. The firm issued an outperform rating on the oil and gas company’s stock.

HP has been the topic of a number of other research reports. Zacks Investment Research downgraded Helmerich & Payne from a buy rating to a hold rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. set a $69.00 target price on Helmerich & Payne and gave the company a buy rating in a research report on Wednesday, June 5th. TheStreet raised Helmerich & Payne from a c rating to a b- rating in a research report on Wednesday, April 24th. Jefferies Financial Group cut Helmerich & Payne from a buy rating to a hold rating and reduced their price target for the stock from $64.00 to $56.00 in a report on Friday, March 15th. Finally, Piper Jaffray Companies set a $61.00 price target on Helmerich & Payne and gave the stock a hold rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. Helmerich & Payne has an average rating of Hold and a consensus price target of $66.47.

Shares of NYSE:HP traded up $0.88 during midday trading on Thursday, hitting $50.62. The company had a trading volume of 1,053,943 shares, compared to its average volume of 1,423,428. The business has a fifty day moving average of $51.90. The company has a current ratio of 2.80, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.44 billion, a PE ratio of 361.57 and a beta of 1.56. Helmerich & Payne has a 12 month low of $44.56 and a 12 month high of $73.74.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.18. Helmerich & Payne had a return on equity of 2.95% and a net margin of 2.65%. The firm had revenue of $720.87 million for the quarter, compared to the consensus estimate of $712.29 million. During the same quarter last year, the business posted ($0.05) EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, sell-side analysts forecast that Helmerich & Payne will post 1.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 9th. This represents a $2.84 annualized dividend and a yield of 5.61%. Helmerich & Payne’s dividend payout ratio is currently 2,028.57%.

Large investors have recently made changes to their positions in the company. Liberty Wealth Management LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter worth about $26,000. Commonwealth Bank of Australia raised its holdings in shares of Helmerich & Payne by 150.0% in the 1st quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Helmerich & Payne in the 1st quarter worth about $28,000. Arbor Wealth Management LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter worth about $30,000. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Helmerich & Payne in the 4th quarter worth about $31,000. Institutional investors own 90.62% of the company’s stock.

About Helmerich & Payne

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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