Helmerich & Payne (HP) Rating Reiterated by BMO Capital Markets

Helmerich & Payne (NYSE:HP)‘s stock had its “sell” rating reiterated by stock analysts at BMO Capital Markets in a research note issued on Sunday. They presently have a $62.00 price objective on the oil and gas company’s stock. BMO Capital Markets’ target price would indicate a potential downside of 5.18% from the company’s previous close.

Other equities analysts have also issued research reports about the company. ValuEngine lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Cowen set a $57.00 price objective on Helmerich & Payne and gave the company a “hold” rating in a research report on Monday, July 30th. Wells Fargo & Co set a $72.00 price target on Helmerich & Payne and gave the company a “hold” rating in a report on Monday, October 15th. They noted that the move was a valuation call. B. Riley upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price target for the company from $68.00 to $83.00 in a report on Monday, September 24th. Finally, Piper Jaffray Companies set a $67.00 price target on Helmerich & Payne and gave the company a “hold” rating in a report on Sunday, July 29th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $71.63.

Shares of Helmerich & Payne stock opened at $65.39 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of -51.49 and a beta of 1.36. Helmerich & Payne has a 12 month low of $51.01 and a 12 month high of $75.02.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $648.87 million for the quarter, compared to analysts’ expectations of $617.06 million. Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) EPS. Sell-side analysts anticipate that Helmerich & Payne will post 0.1 EPS for the current year.

In related news, CEO John W. Lindsay sold 30,000 shares of Helmerich & Payne stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the sale, the director now owns 14,874 shares of the company’s stock, valued at $968,743.62. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Helmerich & Payne by 1.4% in the 2nd quarter. BlackRock Inc. now owns 10,092,572 shares of the oil and gas company’s stock worth $643,501,000 after buying an additional 135,102 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Helmerich & Payne by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,939,321 shares of the oil and gas company’s stock worth $187,411,000 after buying an additional 58,078 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Helmerich & Payne by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,737,350 shares of the oil and gas company’s stock worth $174,549,000 after buying an additional 40,868 shares in the last quarter. Van ECK Associates Corp increased its holdings in Helmerich & Payne by 0.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,140,469 shares of the oil and gas company’s stock worth $72,716,000 after buying an additional 3,165 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Helmerich & Payne by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 914,283 shares of the oil and gas company’s stock worth $58,295,000 after buying an additional 39,226 shares in the last quarter. Institutional investors own 92.11% of the company’s stock.

Helmerich & Payne Company Profile

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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