Helmerich & Payne (HP) Raised to “Buy” at SunTrust Banks
SunTrust Banks upgraded shares of Helmerich & Payne (NYSE:HP) from a sell rating to a buy rating in a research note released on Monday morning, Marketbeat.com reports. SunTrust Banks currently has $75.00 price target on the oil and gas company’s stock, up from their prior price target of $58.00. SunTrust Banks also issued estimates for Helmerich & Payne’s Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.79 EPS, Q1 2020 earnings at $0.98 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $1.13 EPS and Q4 2020 earnings at $1.21 EPS.
Other research analysts also recently issued reports about the company. Cowen set a $57.00 price objective on Helmerich & Payne and gave the company a hold rating in a research note on Monday, July 30th. ValuEngine raised Helmerich & Payne from a hold rating to a buy rating in a research note on Monday, July 30th. Wells Fargo & Co set a $72.00 price objective on Helmerich & Payne and gave the company a hold rating in a research note on Monday, October 15th. They noted that the move was a valuation call. 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. Finally, Piper Jaffray Companies set a $67.00 price objective on Helmerich & Payne and gave the company a hold rating in a research note on Sunday, July 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $73.24.
HP opened at $60.09 on Monday. Helmerich & Payne has a fifty-two week low of $54.00 and a fifty-two week high of $75.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.96 and a quick ratio of 2.57. The stock has a market cap of $6.63 billion, a PE ratio of 552.64 and a beta of 1.30.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, November 8th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 2,028.57%.
In other news, CEO John W. Lindsay sold 30,000 shares of Helmerich & Payne stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the sale, the director now directly owns 14,874 shares in the company, valued at approximately $968,743.62. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
Several large investors have recently made changes to their positions in HP. TLP Group LLC acquired a new stake in shares of Helmerich & Payne during the 3rd quarter worth approximately $120,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $134,000. Signition LP acquired a new stake in shares of Helmerich & Payne during the 3rd quarter worth approximately $201,000. Eads & Heald Wealth Management acquired a new stake in shares of Helmerich & Payne during the 3rd quarter worth approximately $202,000. Finally, Abner Herrman & Brock LLC acquired a new stake in shares of Helmerich & Payne during the 3rd quarter worth approximately $206,000. 90.07% of the stock is currently 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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