Helmerich & Payne (HP) Now Covered by Stephens

Analysts at Stephens began coverage on shares of Helmerich & Payne (NYSE:HP) in a report released on Tuesday, The Fly reports. The brokerage set an “equal weight” rating on the oil and gas company’s stock.

Several other research firms have also commented on HP. JPMorgan Chase & Co. cut their price target on Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 12th. Jefferies Group set a $50.00 price target on Helmerich & Payne and gave the stock a “hold” rating in a research report on Thursday, October 5th. Royal Bank of Canada set a $57.00 price target on Helmerich & Payne and gave the stock a “sector perform” rating in a research report on Friday, November 17th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $48.00 price target on shares of Helmerich & Payne in a research report on Friday, November 24th. Finally, Zacks Investment Research lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. Seven investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the stock. Helmerich & Payne has an average rating of “Hold” and an average target price of $55.67.

Shares of Helmerich & Payne (HP) traded down $0.36 during midday trading on Tuesday, hitting $68.21. The stock had a trading volume of 2,387,869 shares, compared to its average volume of 1,879,400. The company has a quick ratio of 3.19, a current ratio of 3.59 and a debt-to-equity ratio of 0.12. Helmerich & Payne has a 1-year low of $42.16 and a 1-year high of $81.20. The firm has a market cap of $7,243.99, a price-to-earnings ratio of -56.84 and a beta of 1.30.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $532.30 million for the quarter, compared to analyst estimates of $493.78 million. During the same quarter last year, the company earned ($0.33) EPS. The business’s quarterly revenue was up 60.5% on a year-over-year basis. sell-side analysts forecast that Helmerich & Payne will post -0.43 earnings per share for the current year.

In related news, Director Chapman Paula Marshall sold 2,555 shares of Helmerich & Payne stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the sale, the director now directly owns 12,525 shares in the company, valued at $723,945. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.23% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Helmerich & Payne by 4.5% in the second quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock valued at $622,721,000 after buying an additional 492,673 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Helmerich & Payne by 2.0% in the second quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock valued at $582,248,000 after buying an additional 205,883 shares in the last quarter. Capital International Investors boosted its stake in shares of Helmerich & Payne by 37.2% in the third quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock valued at $418,279,000 after buying an additional 2,177,139 shares in the last quarter. State Street Corp boosted its stake in shares of Helmerich & Payne by 2.7% in the second quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock valued at $350,901,000 after buying an additional 172,819 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Helmerich & Payne by 68.8% in the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock valued at $212,148,000 after buying an additional 1,590,793 shares in the last quarter.

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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.

The Fly

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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