Helmerich & Payne (HP) Stock Rating Upgraded by Wells Fargo

Helmerich & Payne (NYSE:HP) was upgraded by equities research analysts at Wells Fargo from an “underperform” rating to a “market perform” rating in a research note issued on Wednesday, MarketBeat Ratings reports.

HP has been the subject of a number of other reports. Jefferies Group set a $65.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada set a $68.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Monday, March 12th. Tudor Pickering raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, UBS raised shares of Helmerich & Payne from a “neutral” rating to a “positive” rating in a research note on Friday, March 9th. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Helmerich & Payne presently has a consensus rating of “Hold” and an average target price of $57.20.

HP opened at $72.51 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.28 and a debt-to-equity ratio of 0.11. The company has a market cap of $7,785.06, a P/E ratio of -57.09 and a beta of 1.33. Helmerich & Payne has a fifty-two week low of $42.16 and a fifty-two week high of $75.02.



Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.14. The business had revenue of $564.10 million during the quarter, compared to the consensus estimate of $547.64 million. Helmerich & Payne had a net margin of 20.30% and a negative return on equity of 1.90%. Helmerich & Payne’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) earnings per share.

In related news, Director Chapman Paula Marshall sold 4,122 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $71.40, for a total transaction of $294,310.80. Following the completion of the transaction, the director now owns 16,647 shares in the company, valued at $1,188,595.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Juan Pablo Tardio sold 10,880 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $65.90, for a total transaction of $716,992.00. Following the transaction, the chief financial officer now owns 16,628 shares of the company’s stock, valued at approximately $1,095,785.20. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Eqis Capital Management Inc. boosted its holdings in Helmerich & Payne by 12.9% during the fourth quarter. Eqis Capital Management Inc. now owns 6,096 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 695 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Helmerich & Payne by 0.6% during the fourth quarter. Systematic Financial Management LP now owns 146,540 shares of the oil and gas company’s stock worth $9,472,000 after purchasing an additional 841 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Helmerich & Payne by 0.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 165,214 shares of the oil and gas company’s stock worth $10,681,000 after purchasing an additional 891 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Helmerich & Payne by 23.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,267 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 1,016 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Helmerich & Payne by 0.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 320,547 shares of the oil and gas company’s stock worth $20,720,000 after purchasing an additional 1,063 shares during the last quarter.

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Helmerich & Payne Company Profile

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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