Helmerich & Payne (HP) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Helmerich & Payne (NYSE:HP) from an underperform rating to a market perform rating in a report released on Monday morning, MarketBeat reports. They currently have $68.00 price objective on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on the company. Bank of America assumed coverage on Helmerich & Payne in a research report on Wednesday, October 17th. They issued an underperform rating on the stock. Wells Fargo & Co set a $72.00 target price on Helmerich & Payne and gave the stock a hold rating in a research report on Monday, October 15th. They noted that the move was a valuation call. Cowen reiterated a hold rating and issued a $61.00 target price on shares of Helmerich & Payne in a research report on Friday, October 12th. Morgan Stanley set a $71.00 target price on Helmerich & Payne and gave the stock a sell rating in a research report on Thursday, October 11th. Finally, Wolfe Research assumed coverage on Helmerich & Payne in a research report on Wednesday, October 10th. They issued an underperform rating on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $72.00.

Shares of Helmerich & Payne stock opened at $62.29 on Monday. The company has a current ratio of 2.97, a quick ratio of 2.57 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $6.83 billion, a PE ratio of -49.30 and a beta of 1.36. Helmerich & Payne has a 52 week low of $52.53 and a 52 week high of $75.02.



The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a yield of 4.56%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -223.62%.

In other Helmerich & Payne news, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.13, for a total transaction of $736,555.17. Following the sale, the director now directly owns 14,874 shares in the company, valued at $968,743.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John W. Lindsay sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of HP. Front Barnett Associates LLC grew its stake in shares of Helmerich & Payne by 0.8% during the second quarter. Front Barnett Associates LLC now owns 123,087 shares of the oil and gas company’s stock valued at $7,848,000 after buying an additional 990 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Helmerich & Payne by 2.9% during the second quarter. Gabelli Funds LLC now owns 35,000 shares of the oil and gas company’s stock valued at $2,232,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Helmerich & Payne by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,204 shares of the oil and gas company’s stock valued at $1,735,000 after buying an additional 1,001 shares during the last quarter. US Bancorp DE grew its stake in shares of Helmerich & Payne by 0.5% during the second quarter. US Bancorp DE now owns 191,620 shares of the oil and gas company’s stock valued at $12,218,000 after buying an additional 1,011 shares during the last quarter. Finally, GWM Advisors LLC grew its stake in shares of Helmerich & Payne by 23.0% during the third quarter. GWM Advisors LLC now owns 6,374 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 1,191 shares during the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

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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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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