Bank of America downgraded shares of Helmerich & Payne (NYSE:HP) from a buy rating to a neutral rating in a research note released on Tuesday morning, BenzingaRatingsTable reports.
Other equities analysts also recently issued research reports about the company. Citigroup downgraded Helmerich & Payne from a buy rating to a neutral rating and dropped their price target for the stock from $50.00 to $43.00 in a research report on Monday, September 30th. Wells Fargo & Co downgraded Helmerich & Payne from an outperform rating to an underperform rating and set a $30.00 price target on the stock. in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price target on Helmerich & Payne from $64.00 to $54.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. Barclays assumed coverage on Helmerich & Payne in a research report on Thursday, September 26th. They set an overweight rating and a $48.00 price target on the stock. Finally, Royal Bank of Canada set a $65.00 price target on Helmerich & Payne and gave the stock a buy rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $56.13.
HP opened at $38.35 on Tuesday. Helmerich & Payne has a 12-month low of $35.74 and a 12-month high of $70.21. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $39.59 and its 200-day simple moving average is $49.09. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 273.93, a PEG ratio of 2.54 and a beta of 1.57.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The business had revenue of $687.97 million for the quarter, compared to the consensus estimate of $689.41 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Helmerich & Payne will post 1.6 EPS for the current year.
The business also recently disclosed a — dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.71 per share. This represents a yield of 7.4%. The ex-dividend date of this dividend is Thursday, November 7th. Helmerich & Payne’s payout ratio is currently 2,028.57%.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Helmerich & Payne by 4.1% during the second quarter. Vanguard Group Inc. now owns 12,381,816 shares of the oil and gas company’s stock valued at $626,767,000 after purchasing an additional 490,806 shares in the last quarter. Invesco Ltd. boosted its position in Helmerich & Payne by 18.7% during the second quarter. Invesco Ltd. now owns 2,156,692 shares of the oil and gas company’s stock valued at $109,172,000 after purchasing an additional 339,457 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Helmerich & Payne by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 1,788,824 shares of the oil and gas company’s stock valued at $90,551,000 after purchasing an additional 81,159 shares in the last quarter. Northern Trust Corp boosted its position in Helmerich & Payne by 3.8% during the second quarter. Northern Trust Corp now owns 1,307,637 shares of the oil and gas company’s stock valued at $66,193,000 after purchasing an additional 47,878 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. boosted its position in Helmerich & Payne by 0.8% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 968,743 shares of the oil and gas company’s stock valued at $49,038,000 after purchasing an additional 7,754 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors.
Helmerich & Payne Company Profile
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.
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