Helmerich & Payne (HP) Coverage Initiated at Stephens

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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