Helmerich & Payne (NYSE:HP) Stock Rating Upgraded by Wall Street Zen

Helmerich & Payne (NYSE:HP) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also commented on the company. Susquehanna boosted their price objective on Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Citigroup dropped their target price on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. The Goldman Sachs Group lifted their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Piper Sandler upped their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada increased their price target on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.50.

Helmerich & Payne Stock Performance

HP opened at $44.17 on Friday. Helmerich & Payne has a 1-year low of $17.30 and a 1-year high of $44.65. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -31.32 and a beta of 0.61. The company’s fifty day moving average price is $35.36 and its two-hundred day moving average price is $36.00. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Helmerich & Payne will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HP. Royal Bank of Canada increased its position in shares of Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock valued at $2,721,000 after purchasing an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock worth $1,531,000 after buying an additional 3,611 shares during the last quarter. NewEdge Advisors LLC grew its position in Helmerich & Payne by 39,685.1% during the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after buying an additional 34,526 shares during the period. Empowered Funds LLC grew its position in Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 852 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Helmerich & Payne by 34.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock valued at $5,575,000 after buying an additional 54,758 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.