Bank of America Upgrades Helmerich & Payne (HP) to Neutral

Bank of America upgraded shares of Helmerich & Payne (NYSE:HP) from an underperform rating to a neutral rating in a research report released on Monday morning, Marketbeat.com reports. The brokerage currently has $64.00 price objective on the oil and gas company’s stock, down from their prior price objective of $71.00.

HP has been the topic of several other reports. Zacks Investment Research cut Helmerich & Payne from a strong-buy rating to a hold rating in a report on Thursday, October 4th. SunTrust Banks upgraded Helmerich & Payne from a sell rating to a buy rating and increased their price target for the company from $58.00 to $75.00 in a report on Monday, November 19th. Royal Bank of Canada upgraded Helmerich & Payne from a sector perform rating to an outperform rating and set a $90.00 price target on the stock in a report on Thursday, September 20th. Capital One Financial upgraded Helmerich & Payne from an equal weight rating to an overweight rating in a report on Friday, October 5th. Finally, Wolfe Research began coverage on Helmerich & Payne in a report on Wednesday, October 10th. They set an underperform rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $72.56.

Shares of HP opened at $60.16 on Monday. The company has a market cap of $6.61 billion, a PE ratio of 429.71 and a beta of 1.30. Helmerich & Payne has a 1 year low of $56.31 and a 1 year high of $75.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.54 and a current ratio of 2.96.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $696.83 million for the quarter, compared to analysts’ expectations of $683.89 million. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. As a group, equities analysts forecast that Helmerich & Payne will post 1.74 EPS for the current fiscal year.

In other Helmerich & Payne news, VP John R. Bell sold 13,000 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the transaction, the vice president now owns 63,375 shares of the company’s stock, valued at approximately $3,813,273.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Lindsay sold 30,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. The disclosure for this sale can be found here. Insiders sold a total of 54,309 shares of company stock worth $3,618,765 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. TLP Group LLC bought a new position in Helmerich & Payne in the 3rd quarter valued at $120,000. Flagship Harbor Advisors LLC bought a new position in Helmerich & Payne in the 2nd quarter valued at $134,000. Signition LP bought a new position in shares of Helmerich & Payne during the 3rd quarter worth $201,000. Eads & Heald Wealth Management bought a new position in shares of Helmerich & Payne during the 3rd quarter worth $202,000. Finally, Abner Herrman & Brock LLC bought a new position in shares of Helmerich & Payne during the 3rd quarter worth $206,000. 90.68% of the stock is currently owned by institutional investors.

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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