In a report released on Wednesday morning, the rating went from buy to hold.
Several other research analysts also published reports recently on HP. VNET Group reaffirmed a Maintains rating on Helmerich & Payne shares in a report published on Friday, 19th May. Barclays lowered their target price for shares of Helmerich & Payne in a report published on Thursday, 6th June from $52.00 down to $44.00. Piper Sandler reduced their target price for shares of Helmerich & Payne in a report published on Monday, 1st May from $65.00 down to $50.00. Susquehanna lowered their target price for shares of Helmerich & Payne in a report published on Friday, June 2. In a report published on Monday, March 27, The Goldman Sachs Group reduced its target price for shares of Helmerich & Payne to $38.00 from $44.00. They also set a "sell" rating. Five analysts have assigned a hold rating to the stock, while five others have assigned a buy rating. On Wednesday, the stock opened at 37.53. Helmerich & Payne's 52-week low is $30.41, and its 52-week highest is $54.45. The company's quick ratio is 2.19, its current ratio is 2.43, and it has a debt to equity ratio of 0.20. The 50-day moving average of the company is $33.88, and its 200 day moving average is $35.87. The company has a $3.85 billion market cap, a P/E ratio of 12.35, and a beta value of 1.67.
The last time ) released its quarterly results was on Wednesday, 26th April. The oil and Gas company reported $1.26 in earnings per share for the third quarter, exceeding analysts' expectations of $1.05. Helmerich & Payne's net margin was 12.15 % and its return on equity was 11.93%. The company had revenue of $769.22 millions for the quarter compared with analyst estimates of $751.49 million. Equities analysts expect Helmerich & Payne to post 4.02 earnings-per-share for the current fiscal year.
Helmerich & Payne Announces Dividend
Recently, the company announced that it would be paying a quarterly dividend on Thursday, August 31, 2018. Investors who are in the books on Thursday, August 17, will receive a $0.485 dividend per share. This dividend will be paid on Wednesday, August 16. The yield is 5.17%. This dividend represents $1.94 on an annualized base. Helmerich & Payne has a dividend payout ratio of 32.89%.
Hedge Funds Weigh In On Helmerich & Payne
Recently, hedge funds made some changes to the positions they hold in the stock. Rockefeller Capital Management L.P. increased its holdings of Helmerich & Payne shares by 221.1% during the 4th quarter. Rockefeller Capital Management L.P. owns now 533 shares valued at $26,000 of the oil company's stock after purchasing 367 additional shares during the previous quarter. C M Bidwell & Associates Ltd. bought a new share of Helmerich & Payne during the first quarter, valued at $31,000. CENTRAL TRUST Co bought a new share of Helmerich & Payne during the 4th Quarter valued at $44,000. Coppell Advisory Solutions Corp. bought a new share of Helmerich & Payne during the 4th Quarter valued at $45,000. Steward Partners Investment Advisory increased its stake in Helmerich & Payne shares by 689.7% during the fourth quarter. Steward Partners Investment Advisory LLC owns now 1,145 shares worth $57,000 of the oil company's stock after acquiring 1,000 additional shares. Institutional investors and hedge fund own 93.88% the company's shares.
About Helmerich & Payne
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Helmerich & Payne, Inc. (H&P), founded in 1920 (NYSE: HP), is dedicated to delivering the highest levels of drilling productivity. H&P is committed to the highest levels of integrity, safety, and innovation in order to provide superior results for customers and return for shareholders.
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