Stocks of Helmerich & Payne Inc. (NYSE:HP) traded higher last session on Wall Street, down -6.90% to $46.15.
According to the data, Helmerich & Payne Inc. (NYSE:HP) has 18 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $77.00 and a low of $44.00, we find $62.00. Given the previous closing price of $49.57, this indicates a potential upside of 25.08 percent. HP stock price is now -5.77% away from the 50-day moving average and 2.53% away from the 200-day moving average. The market capitalization of the company currently stands at $4.87B.
A total of 6 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $61.20 as their price target over the next twelve months.
On September 26, 2022, Morgan Stanley Upgraded its previous ‘Underweight’ rating to ‘Equal-Weight’ on the stock increasing its target price from $48 to quote $55, while ‘Barclays’ rates the stock as ‘Overweight’.
In other news, HELMERICH HANS, Director sold 10,500 shares of the company’s stock on Dec 01. The stock was sold for $525,240 at an average price of $50.02. Upon completion of the transaction, the Director now directly owns 24,470 shares in the company, valued at $1.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07, PRESIDENT AND CEO LINDSAY JOHN W sold 12,000 shares of the business’s stock. A total of $630,120 was realized by selling the stock at an average price of $52.51. This leaves the insider owning 412,778 shares of the company worth $19.05 million. Insiders disposed of 304,125 shares of company stock worth roughly $14.04 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HP stock. A new stake in Helmerich & Payne Inc. shares was purchased by MEREWETHER INVESTMENT MANAGEMENT, LP during the first quarter worth $19,912,000. ALYESKA INVESTMENT GROUP, L.P. invested $10,195,000 in shares of HP during the first quarter. In the first quarter, COBALT CAPITAL MANAGEMENT, INC. acquired a new stake in Helmerich & Payne Inc. valued at approximately $5,769,000. EDGESTREAM PARTNERS, L.P. acquired a new stake in HP for approximately $4,804,000. CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM purchased a new stake in HP valued at around $4,209,000 in the second quarter. In total, there are 456 active investors with 96.20% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $48.90 for Helmerich & Payne Inc. (NYSE: HP). During the past 12 months, Helmerich & Payne Inc. has had a low of $23.46 and a high of $54.45. As of last week, the company has a debt-to-equity ratio of 0.20, a current ratio of 2.50, and a quick ratio of 2.30. The fifty day moving average price for HP is $49.05 and a two-hundred day moving average price translates $45.18 for the stock.
The latest earnings results from Helmerich & Payne Inc. (NYSE: HP) was released for Jun, 2022. According to the Oil & Gas Drilling Company, earnings per share came in at $0.27, beating analysts’ expectations of $0.05 by 0.22. This compares to -$0.73 EPS in the same period last year. The net profit margin was 0.30% and return on equity was 0.20% for HP. The company reported revenue of $631.33 million for the quarter, compared to $343.81 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 83.63 percent. For the current quarter, analysts expect HP to generate $595.45M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/28/2023. Investors who held shares on 02/14/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 2.17% percent yield. There was an ex-dividend date of 02/13/2023 for this dividend.
Helmerich & Payne Inc.(HP) Company Profile
Helmerich & Payne, Inc., together with its subsidiaries, provides drilling services and solutions for exploration and production companies. The company operates through three segments: North America Solutions, Offshore Gulf of Mexico, and International Solutions. The North America Solutions segment drills primarily in Colorado, Louisiana, Montana, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, and Wyoming. It also focuses on developing, promoting, and commercializing technologies designed to enhance the drilling operations, as well as wellbore quality and placement. The Offshore Gulf of Mexico segment has drilling operations in Louisiana and in U.S. federal waters in the Gulf of Mexico. The International Solutions segment conducts drilling operations in Argentina, Bahrain, Colombia, and the United Arab Emirates. As of September 30, 2021, the company operated a fleet of 236 land rigs in North America; 30 international land rigs; and 7 offshore platform rigs. It also owns, develops, and operates commercial real estate properties. The company’s real estate investments include a shopping center comprising approximately 390,000 leasable square feet; and approximately 176 acres of undeveloped real estate located in Tulsa, Oklahoma. Helmerich & Payne, Inc. was founded in 1920 and is headquartered in Tulsa, Oklahoma.