Helmerich & Payne, Inc. (NYSE:HP) Given Consensus Rating of “Hold” by Brokerages

Shares of Helmerich & Payne, Inc. (NYSE:HP) have been assigned an average rating of “Hold” from the eleven research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $43.10.

Several research firms have recently commented on HP. Susquehanna increased their price target on shares of Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Wall Street Zen raised Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Morgan Stanley increased their price objective on Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, August 20th. 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 note on Wednesday, June 3rd. Finally, Royal Bank Of Canada boosted their target price on Helmerich & Payne from $44.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $42.60 on Tuesday. The stock has a 50-day simple moving average of $39.08 and a 200 day simple moving average of $37.39. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of -30.22 and a beta of 0.66. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Helmerich & Payne has a 12-month low of $20.32 and a 12-month high of $48.17.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the prior year, the company earned $0.22 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that Helmerich & Payne will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Sara Momper sold 5,054 shares of Helmerich & Payne stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the sale, the chief accounting officer directly owned 16,958 shares in the company, valued at $750,900.24. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cara Hair sold 11,149 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president directly owned 136,095 shares of the company’s stock, valued at $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 110,673 shares of company stock worth $4,864,590 over the last three months. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Helmerich & Payne in the 2nd quarter valued at approximately $513,336,000. Dimensional Fund Advisors LP grew its holdings in Helmerich & Payne by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock valued at $206,660,000 after purchasing an additional 570,500 shares during the period. California State Teachers Retirement System grew its holdings in Helmerich & Payne by 3,079.7% during the second quarter. California State Teachers Retirement System now owns 3,722,669 shares of the oil and gas company’s stock valued at $113,704,000 after purchasing an additional 3,605,593 shares during the period. Bank of America Corp DE increased its stake in Helmerich & Payne by 109.2% in the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock valued at $60,392,000 after purchasing an additional 874,823 shares in the last quarter. Finally, Encompass Capital Advisors LLC increased its stake in Helmerich & Payne by 165.1% in the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after purchasing an additional 1,296,537 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P’s offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.