Helmerich & Payne Inc. (HP) Receives Average Recommendation of “Hold” from Brokerages
Shares of Helmerich & Payne Inc. (NYSE:HP) have received an average rating of “Hold” from the twenty-nine brokerages that are covering the firm. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $63.11.
Several equities research analysts have commented on the company. Citigroup Inc. upped their price target on Helmerich & Payne from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Jefferies Group reiterated a “sell” rating on shares of Helmerich & Payne in a research note on Tuesday, August 30th. Argus lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. KeyCorp upgraded Helmerich & Payne from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Tuesday, June 21st. Finally, JPMorgan Chase & Co. reiterated a “sell” rating and issued a $39.00 target price on shares of Helmerich & Payne in a research note on Friday, July 29th.
Shares of Helmerich & Payne (NYSE:HP) traded up 0.78% on Thursday, reaching $69.60. The company’s stock had a trading volume of 520,641 shares. The stock’s market capitalization is $7.52 billion. The company has a 50 day moving average of $62.31 and a 200 day moving average of $62.53. Helmerich & Payne has a 1-year low of $40.02 and a 1-year high of $70.39.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $298.71 million. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. The business’s revenue was down 44.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities research analysts expect that Helmerich & Payne will post ($1.16) earnings per share for the current fiscal year.
In other news, insider John R. Bell sold 9,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $66.35, for a total value of $597,150.00. Following the completion of the sale, the insider now owns 45,666 shares of the company’s stock, valued at $3,029,939.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John W. Lindsay sold 15,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $67.45, for a total value of $1,011,750.00. Following the completion of the sale, the chief executive officer now directly owns 141,512 shares of the company’s stock, valued at approximately $9,544,984.40. The disclosure for this sale can be found here. 4.23% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Helmerich & Payne by 7.0% in the first quarter. Geode Capital Management LLC now owns 927,146 shares of the company’s stock valued at $54,337,000 after buying an additional 60,417 shares during the period. Shell Asset Management Co. boosted its stake in Helmerich & Payne by 98.9% in the second quarter. Shell Asset Management Co. now owns 10,913 shares of the company’s stock worth $733,000 after buying an additional 5,425 shares during the last quarter. BB&T Securities LLC purchased a new stake in Helmerich & Payne during the second quarter worth about $331,000. Investec Asset Management North America Inc. boosted its stake in Helmerich & Payne by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 10,076 shares of the company’s stock worth $592,000 after buying an additional 2,885 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock worth $124,000 after buying an additional 33 shares during the last quarter.
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.
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