DA Davidson Comments on Helmerich & Payne Inc.’s FY2016 Earnings (HP)
Helmerich & Payne Inc. (NYSE:HP) – Analysts at DA Davidson issued their FY2016 earnings per share (EPS) estimates for shares of Helmerich & Payne in a research note issued to investors on Wednesday. DA Davidson analyst S. Randhawa expects that the brokerage will earn ($1.09) per share for the year. DA Davidson has a “Buy” rating and a $72.00 price objective on the stock. DA Davidson also issued estimates for Helmerich & Payne’s Q4 2016 earnings at ($0.39) EPS, Q1 2017 earnings at ($0.36) EPS, Q2 2017 earnings at ($0.35) EPS, Q3 2017 earnings at ($0.30) EPS, Q4 2017 earnings at ($0.20) EPS, FY2017 earnings at ($1.21) EPS and FY2018 earnings at $0.29 EPS.
Several other brokerages have also recently commented on HP. Citigroup Inc. boosted their target price on Helmerich & Payne from $61.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 13th. Zacks Investment Research raised Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Jefferies Group reissued a “sell” rating and set a $43.00 target price (up previously from $42.00) on shares of Helmerich & Payne in a report on Monday, July 11th. KeyCorp raised Helmerich & Payne from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. raised Helmerich & Payne to a “hold” rating in a report on Tuesday, June 21st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.79.
Helmerich & Payne (NYSE:HP) opened at 56.46 on Monday. Helmerich & Payne has a one year low of $40.02 and a one year high of $70.28. The firm’s market cap is $6.10 billion. The company has a 50-day moving average price of $61.53 and a 200-day moving average price of $62.13.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The firm earned $366.50 million during the quarter, compared to analyst estimates of $298.71 million. During the same quarter in the previous year, the business posted $0.27 EPS. Helmerich & Payne’s revenue was down 44.6% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. raised its position in Helmerich & Payne by 5.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 36,762 shares of the company’s stock worth $1,940,000 after buying an additional 1,800 shares in the last quarter. Norges Bank purchased a new position in Helmerich & Payne during the fourth quarter worth $63,521,000. Chevy Chase Trust Holdings Inc. raised its position in Helmerich & Payne by 4.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 92,823 shares of the company’s stock worth $5,450,000 after buying an additional 4,055 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Helmerich & Payne by 15.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,418 shares of the company’s stock worth $1,727,000 after buying an additional 3,982 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in Helmerich & Payne by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 26,298 shares of the company’s stock worth $1,544,000 after buying an additional 2,138 shares in the last quarter.
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.
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