Research Analysts’ Weekly Ratings Updates for Helmerich & Payne (HP)

Several analysts have recently updated their ratings and price targets for Helmerich & Payne (NYSE: HP):

  • 3/15/2018 – Helmerich & Payne was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 3/12/2018 – Helmerich & Payne was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $73.00 price target on the stock. According to Zacks, “The improving outlook at Helmerich & Payne’s biggest unit – U.S. Land — and rising commodity prices are set to provide the contract driller with exciting opportunities to redeploy its technologically-advanced FlexRigs. As it is, healthier drilling activity in U.S. Land segment helped HP come out with narrower-than-expected loss in the last quarter on the back of higher utilizations and dayrates. The energy landscape is expected to further strengthen the fundamentals and increase levels of rig activity. We believe that HP’s proprietary FlexRigs will continue to benefit from the shift to complex onshore plays that require highly intensive solutions. Finally, the company's recent MagVar buy will improve the directional drilling performance and will enable HP to drill wells more efficiently and accurately. Consequently, we view Helmerich & Payne as a preferred energy play to own now.”
  • 3/9/2018 – Helmerich & Payne was upgraded by analysts at Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating. They now have a $75.00 price target on the stock, up previously from $42.16.
  • 3/9/2018 – Helmerich & Payne was upgraded by analysts at UBS from a “neutral” rating to a “positive” rating.
  • 3/7/2018 – Helmerich & Payne was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “The improving outlook at Helmerich’s biggest segment – U.S. Land —is set to provide Helmerich & Payne with exciting opportunities to redeploy its technologically-advanced FlexRigs. As it is, higher drilling activity in U.S. Land segment helped HP come out with narrower-than-expected loss in the last quarter on the back of higher utilizations and dayrates along with improving commodity prices. The improving energy landscape is expected to further strengthen the fundamentals and increase levels of rig activity. But with large, multinational energy firms looking to reign in their skyrocketing capital expenses, the drilling space is witnessing intense competition, as multiple firms chase a single contract. We also ned to factr the low return on equity. As such, we take a cautious stance on the prospects of the stock.”
  • 3/6/2018 – Helmerich & Payne was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $75.00 price target on the stock. According to Zacks, “The improving outlook at Helmerich’s biggest segment – U.S. Land —is set to provide Helmerich & Payne with exciting opportunities to redeploy its technologically-advanced FlexRigs. As it is, higher drilling activity in U.S. Land segment helped HP come out with narrower-than-expected loss in the last quarter on the back of higher utilizations and dayrates along with improving commodity prices. The improving energy landscape is expected to further strengthen the fundamentals and increase levels of rig activity. As it is, we believe the proprietary FlexRigs will continue to benefit from the shift to complex onshore plays that require highly intensive solutions. Consequently, we think Helmerich & Payne offers substantial upside potential from the current price levels and view it as an attractive investment.”
  • 2/8/2018 – Helmerich & Payne was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “We are recalibrating our investment thesis on Helmerich & Payne from Buy to Hold. Higher drilling activity at its biggest segment – U.S. Land – helped HP come out with narrower-than-expected loss. The rally in crude prices over the past year have led to strengthening fundamentals and increasing level of rig activity. In particular, HP's U.S. land drilling business has been able to grow its utilization and dayrates amid pricing improvements. As it is, we believe the proprietary FlexRigs will continue to benefit from the shift to complex onshore plays that require highly intensive solutions. But with large, multinational energy firms looking to reign in their skyrocketing capital expenses, the drilling space is witnessing intense competition, as multiple firms chase a single contract. This will continue to impact the earnings adversely in the near-to medium term.”
  • 2/2/2018 – Helmerich & Payne was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $82.00 price target on the stock. According to Zacks, “Following Helmerich & Payne's solid Q1 results, we are recalibrating our investment thesis on the company from Sell to Hold. Higher drilling activity at its biggest segment – U.S. Land – helped HP come out with narrower-than-expected loss. The rally in crude prices over the past year have led to strengthening fundamentals and increasing level of rig activity. In particular, HP's U.S. land drilling business has been able to grow its utilization and dayrates amid pricing improvements. As it is, we believe the proprietary FlexRigs will continue to benefit from the shift to complex onshore plays that require highly intensive solutions. Consequently, we think Helmerich & Payne offers substantial upside potential from the current price levels and view it as an attractive investment.”
  • 2/1/2018 – Helmerich & Payne was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Higher drilling activity at its biggest segment – U.S. Land – helped Helmerich & Payne come out with narrower-than-expected loss. The rally in crude prices over the past year have led to strengthening fundamentals and increasing level of rig activity. In particular, HP's U.S. land drilling business has been able to grow its utilization and dayrates amid pricing improvements. As it is, we believe the proprietary FlexRigs will continue to benefit from the shift to complex onshore plays that require highly intensive solutions. But with large, multinational energy firms looking to reign in their skyrocketing capital expenses, the drilling space is witnessing intense competition, as multiple firms chase a single contract. This will continue to impact the earnings adversely in the near-to medium term.”
  • 2/1/2018 – Helmerich & Payne had its price target raised by analysts at Argus from $65.00 to $87.00. They now have a “buy” rating on the stock.
  • 1/29/2018 – Helmerich & Payne was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating.
  • 1/29/2018 – Helmerich & Payne was upgraded by analysts at Societe Generale from a “hold” rating to a “buy” rating.
  • 1/26/2018 – Helmerich & Payne had its “market perform” rating reaffirmed by analysts at Cowen Inc. They now have a $60.00 price target on the stock, up previously from $50.00.
  • 1/25/2018 – Helmerich & Payne had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $69.00 price target on the stock.
  • 1/22/2018 – Helmerich & Payne was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “With crude prices oscillating between $45 and $50 a barrel for most of 2017 – down 55% from mid-2014 levels – the top energy companies cut spending (particularly on the costly drilling projects) on the back of lower profit margins. This, in turn, meant less work for the beleaguered drillers (like Helmerich & Payne) as exploration for new oil and gas projects almost came to a standstill. Moreover, with large, multinational energy firms looking to reign in their skyrocketing capital expenses, the drilling space witnessed intense competition, as multiple firms chased a single contract. This excess capacity, in turn, led to significantly lower utilization/dayrates.  As such we do not see any near-term improvement for the likes of Helmerich & Payne. In fact, the stock is a risky bet that is best avoided at the moment.”

Helmerich & Payne stock traded up $0.12 during trading on Monday, reaching $64.68. The company had a trading volume of 1,465,064 shares, compared to its average volume of 1,881,352. The firm has a market capitalization of $7,028.44, a price-to-earnings ratio of 17.58 and a beta of 1.31. Helmerich & Payne, Inc. has a 12-month low of $42.16 and a 12-month high of $75.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.89 and a current ratio of 3.28.

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Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, January 25th. The oil and gas company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.14. The firm had revenue of $564.10 million for the quarter, compared to analyst estimates of $547.64 million. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. Helmerich & Payne’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period last year, the company earned ($0.33) earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Thursday, May 17th. Helmerich & Payne’s dividend payout ratio (DPR) is 76.09%.

In related news, Director Chapman Paula Marshall sold 4,122 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $71.40, for a total transaction of $294,310.80. Following the sale, the director now directly owns 16,647 shares of the company’s stock, valued at $1,188,595.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by company insiders.

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.

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