Helmerich & Payne’s (HP) Hold Rating Reiterated at Cowen

Cowen reaffirmed their hold rating on shares of Helmerich & Payne (NYSE:HP) in a research report report published on Monday morning. The brokerage currently has a $61.00 price objective on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on HP. JPMorgan Chase & Co. raised Helmerich & Payne from an underweight rating to a neutral rating and raised their price objective for the company from $49.00 to $58.00 in a research note on Friday, September 14th. Royal Bank of Canada raised Helmerich & Payne from a sector perform rating to an outperform rating and set a $90.00 price objective for the company in a research note on Thursday, September 20th. B. Riley raised Helmerich & Payne from a neutral rating to a buy rating and raised their price objective for the company from $68.00 to $83.00 in a research note on Monday, September 24th. Zacks Investment Research downgraded Helmerich & Payne from a strong-buy rating to a hold rating in a research note on Thursday, October 4th. Finally, Capital One Financial raised Helmerich & Payne from an equal weight rating to an overweight rating in a research note on Friday, October 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $72.56.

Shares of HP stock opened at $60.16 on Monday. The company has a market cap of $6.61 billion, a PE ratio of 429.71 and a beta of 1.30. Helmerich & Payne has a 12-month low of $56.31 and a 12-month high of $75.02. The company has a quick ratio of 2.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.11.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. The firm had revenue of $696.83 million during the quarter, compared to the consensus estimate of $683.89 million. On average, equities research analysts expect that Helmerich & Payne will post 1.74 earnings per share for the current year.

In other Helmerich & Payne news, CEO John W. Lindsay sold 30,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John R. Bell sold 13,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the transaction, the vice president now directly owns 63,375 shares of the company’s stock, valued at approximately $3,813,273.75. The disclosure for this sale can be found here. Insiders have sold 54,309 shares of company stock valued at $3,618,765 in the last three months. 4.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Helmerich & Payne by 0.6% during the third quarter. BlackRock Inc. now owns 10,149,341 shares of the oil and gas company’s stock worth $697,971,000 after buying an additional 56,769 shares in the last quarter. Capital World Investors increased its position in Helmerich & Payne by 5.6% during the third quarter. Capital World Investors now owns 5,591,400 shares of the oil and gas company’s stock worth $384,521,000 after buying an additional 295,400 shares in the last quarter. Bank of New York Mellon Corp increased its position in Helmerich & Payne by 2.0% during the second 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 position in Helmerich & Payne by 1.5% during the second 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. Finally, Janus Henderson Group PLC increased its position in Helmerich & Payne by 71.4% during the third quarter. Janus Henderson Group PLC now owns 1,179,228 shares of the oil and gas company’s stock worth $81,095,000 after buying an additional 491,300 shares in the last quarter. 90.68% of the stock is owned by institutional investors.

About Helmerich & Payne

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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