Helmerich & Payne (NYSE:HP) Downgraded by ValuEngine to Sell

Helmerich & Payne (NYSE:HP) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, March 15th.

Several other research analysts also recently commented on HP. Royal Bank of Canada set a $57.00 price objective on shares of Helmerich & Payne and gave the company a “sector perform” rating in a research report on Friday, November 17th. Jefferies Group set a $58.00 price objective on shares of Helmerich & Payne and gave the stock a “hold” rating in a research note on Saturday, November 18th. B. Riley reduced their price objective on shares of Helmerich & Payne from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 22nd. Piper Jaffray reaffirmed a “hold” rating and set a $48.00 price target on shares of Helmerich & Payne in a research report on Friday, November 24th. Finally, Zacks Investment Research raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Wednesday, November 29th. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.04.

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Helmerich & Payne stock traded down $1.98 during midday trading on Thursday, reaching $65.45. 1,045,963 shares of the company’s stock were exchanged, compared to its average volume of 1,491,880. Helmerich & Payne has a 52 week low of $42.16 and a 52 week high of $75.02. The stock has a market capitalization of $7,340.89, a P/E ratio of -51.54 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.89 and a current ratio of 3.28.

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

In other news, CFO Juan Pablo Tardio sold 10,880 shares of the firm’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $65.90, for a total transaction of $716,992.00. Following the sale, the chief financial officer now owns 16,628 shares in the company, valued at approximately $1,095,785.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Chapman Paula Marshall sold 4,122 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $71.40, for a total transaction of $294,310.80. Following the sale, the director now owns 16,647 shares in the company, valued at approximately $1,188,595.80. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. raised its position in Helmerich & Payne by 12.9% in the 4th quarter. Eqis Capital Management Inc. now owns 6,096 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 695 shares during the period. Systematic Financial Management LP raised its position in Helmerich & Payne by 0.6% in the 4th quarter. Systematic Financial Management LP now owns 146,540 shares of the oil and gas company’s stock worth $9,472,000 after purchasing an additional 841 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Helmerich & Payne by 0.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 165,214 shares of the oil and gas company’s stock worth $10,681,000 after purchasing an additional 891 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Helmerich & Payne by 23.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,267 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 1,016 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Helmerich & Payne by 0.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 320,547 shares of the oil and gas company’s stock worth $20,720,000 after purchasing an additional 1,063 shares during the period.

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About Helmerich & Payne

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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