Research analysts at Stephens assumed coverage on shares of Helmerich & Payne (NYSE:HP) in a research report issued on Tuesday, January 9th, Marketbeat.com reports. The firm set an “equal weight” rating and a $67.00 price target on the oil and gas company’s stock. Stephens’ price target indicates a potential downside of 6.98% from the company’s previous close.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Wednesday, November 29th. Tudor Pickering upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Deutsche Bank started coverage on Helmerich & Payne in a research note on Tuesday, October 10th. They set a “hold” rating and a $45.00 price target on the stock. Jefferies Group set a $50.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, Cowen set a $50.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Wednesday, October 18th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. Helmerich & Payne currently has an average rating of “Hold” and an average price target of $55.63.
Shares of Helmerich & Payne (NYSE HP) opened at $72.03 on Tuesday. The company has a current ratio of 3.28, a quick ratio of 3.19 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7,820.00, a P/E ratio of -60.03 and a beta of 1.30. Helmerich & Payne has a one year low of $42.16 and a one year high of $75.02.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.14. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $547.64 million. During the same period last year, the business posted ($0.33) EPS. The business’s revenue was up 53.0% compared to the same quarter last year. analysts anticipate that Helmerich & Payne will post -0.17 earnings per share for the current fiscal year.
In other news, Director Chapman Paula Marshall sold 2,555 shares of the company’s 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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Helmerich & Payne by 4.5% during the second quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock worth $622,721,000 after purchasing an additional 492,673 shares in the last quarter. Vanguard Group Inc. lifted its stake in Helmerich & Payne by 2.0% during the second quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock worth $582,248,000 after purchasing an additional 205,883 shares in the last quarter. Capital International Investors lifted its stake in Helmerich & Payne by 37.2% during the third quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock worth $418,279,000 after purchasing an additional 2,177,139 shares in the last quarter. State Street Corp lifted its stake in Helmerich & Payne by 2.7% during the second quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock worth $350,901,000 after purchasing an additional 172,819 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Helmerich & Payne by 68.8% during the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after purchasing an additional 1,590,793 shares in the last quarter.
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Helmerich & Payne Company Profile
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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