Helmerich & Payne Inc. (HP) Receives “Sell” Rating from Jefferies Group
Other research analysts also recently issued reports about the company. Nomura set a $71.00 price objective on Helmerich & Payne and gave the stock a buy rating in a report on Tuesday, August 16th. Argus reiterated a buy rating and issued a $72.00 price target on shares of Helmerich & Payne in a report on Monday, August 15th. DA Davidson initiated coverage on Helmerich & Payne in a report on Thursday, September 15th. They issued a buy rating and a $72.00 price target on the stock. RBC Capital Markets set a $70.00 price target on Helmerich & Payne and gave the company a buy rating in a report on Friday, October 7th. Finally, Morgan Stanley upgraded Helmerich & Payne from an underweight rating to an equal weight rating and lifted their price target for the company from $70.00 to $80.00 in a report on Tuesday, September 6th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Helmerich & Payne has a consensus rating of Hold and a consensus target price of $62.70.
Helmerich & Payne (NYSE:HP) traded up 2.00% during midday trading on Wednesday, reaching $67.26. The company’s stock had a trading volume of 1,246,786 shares. The firm has a 50 day moving average price of $65.76 and a 200-day moving average price of $63.36. Helmerich & Payne has a 12-month low of $40.02 and a 12-month high of $70.39. The company’s market cap is $7.27 billion.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, November 17th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.10. The company had revenue of $332 million for the quarter. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. The company’s revenue for the quarter was down 40.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. On average, equities research analysts predict that Helmerich & Payne will post ($1.16) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, November 8th. Helmerich & Payne’s dividend payout ratio is currently -4,665.89%.
In related news, CEO John W. Lindsay sold 15,000 shares of the 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 transaction, the chief executive officer now owns 141,512 shares of the company’s stock, valued at $9,544,984.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John R. Bell sold 9,000 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $66.35, for a total value of $597,150.00. Following the completion of the transaction, the insider now directly owns 45,666 shares in the company, valued at approximately $3,029,939.10. The disclosure for this sale can be found here. Insiders own 4.23% of the company’s stock.
A number of institutional investors have recently bought and sold shares of HP. SFE Investment Counsel raised its position in Helmerich & Payne by 15.9% in the second quarter. SFE Investment Counsel now owns 25,350 shares of the company’s stock valued at $1,702,000 after buying an additional 3,485 shares during the period. CT Mason raised its position in Helmerich & Payne by 0.9% in the third quarter. CT Mason now owns 95,701 shares of the company’s stock valued at $6,441,000 after buying an additional 825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Helmerich & Payne by 23.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 209,200 shares of the company’s stock valued at $14,044,000 after buying an additional 39,803 shares during the period. Shell Asset Management Co. raised its position in Helmerich & Payne by 98.9% in the second quarter. Shell Asset Management Co. now owns 10,913 shares of the company’s stock valued at $733,000 after buying an additional 5,425 shares during the period. Finally, BB&T Securities LLC acquired a new position in Helmerich & Payne during the second quarter valued at approximately $331,000.
About Helmerich & Payne
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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