Bank of America initiated coverage on shares of Helmerich & Payne (NYSE:HP) in a report published on Wednesday, Marketbeat reports. The brokerage issued an underperform rating on the oil and gas company’s stock.
A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Co set a $72.00 price target on shares of 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. Cowen reissued a hold rating and issued a $61.00 price target on shares of Helmerich & Payne in a report on Friday, October 12th. Morgan Stanley set a $71.00 price target on shares of Helmerich & Payne and gave the company a sell rating in a report on Thursday, October 11th. Wolfe Research initiated coverage on Helmerich & Payne in a report on Wednesday, October 10th. They set an underperform rating on the stock. Finally, Zacks Investment Research upgraded Helmerich & Payne from a hold rating to a buy rating and set a $81.00 price objective on the stock in a report on Tuesday, October 9th. Three 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 company. The stock has a consensus rating of Hold and a consensus price target of $72.27.
NYSE HP traded down $0.26 on Wednesday, reaching $66.15. The company’s stock had a trading volume of 1,008,805 shares, compared to its average volume of 1,263,726. Helmerich & Payne has a twelve month low of $50.71 and a twelve month high of $75.02. The company has a current ratio of 2.97, a quick ratio of 2.57 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -52.09 and a beta of 1.36.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The business had revenue of $648.87 million during the quarter, compared to analyst estimates of $617.06 million. During the same period in the previous year, the company posted ($0.25) earnings per share. Helmerich & Payne’s revenue was up 30.1% compared to the same quarter last year. As a group, research analysts predict that Helmerich & Payne will post 0.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.84 annualized dividend and a yield of 4.29%. Helmerich & Payne’s payout ratio is presently -223.62%.
In other news, CEO John W. Lindsay sold 30,000 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the transaction, the director now owns 14,874 shares in the company, valued at approximately $968,743.62. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of HP. Front Barnett Associates LLC grew its stake in shares of Helmerich & Payne by 0.8% in the 2nd quarter. Front Barnett Associates LLC now owns 123,087 shares of the oil and gas company’s stock valued at $7,848,000 after buying an additional 990 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Helmerich & Payne by 2.9% in the 2nd quarter. Gabelli Funds LLC now owns 35,000 shares of the oil and gas company’s stock valued at $2,232,000 after buying an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Helmerich & Payne by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,204 shares of the oil and gas company’s stock valued at $1,735,000 after buying an additional 1,001 shares in the last quarter. US Bancorp DE grew its stake in shares of Helmerich & Payne by 0.5% in the 2nd quarter. US Bancorp DE now owns 191,620 shares of the oil and gas company’s stock valued at $12,218,000 after buying an additional 1,011 shares in the last quarter. Finally, Rockland Trust Co. grew its stake in shares of Helmerich & Payne by 8.0% in the 3rd quarter. Rockland Trust Co. now owns 16,435 shares of the oil and gas company’s stock valued at $1,130,000 after buying an additional 1,223 shares in the last quarter. Institutional investors own 91.99% 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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