SunTrust Banks, Inc. reaffirmed their sell rating on shares of Helmerich & Payne, Inc. (NYSE:HP) in a research report report published on Tuesday. The brokerage currently has a $37.00 price objective on the oil and gas company’s stock, down from their prior price objective of $66.00. SunTrust Banks also issued estimates for Helmerich & Payne’s Q4 2017 earnings at ($0.21) EPS, Q1 2018 earnings at ($0.21) EPS, Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.69) EPS and Q1 2019 earnings at ($0.04) EPS.

Several other brokerages have also recently issued reports on HP. Royal Bank Of Canada reiterated a hold rating and issued a $65.00 price target on shares of Helmerich & Payne in a research note on Thursday, July 20th. BidaskClub upgraded Helmerich & Payne from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Zacks Investment Research downgraded shares of Helmerich & Payne from a hold rating to a sell rating in a research report on Tuesday, July 4th. BMO Capital Markets lowered their price objective on shares of Helmerich & Payne from $54.00 to $40.00 and set an underperform rating for the company in a research report on Friday, July 14th. Finally, Bank of America Corporation downgraded shares of Helmerich & Payne from a buy rating to a neutral rating and lowered their price objective for the company from $71.00 to $55.00 in a research report on Friday, June 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $54.71.

Shares of Helmerich & Payne (HP) traded down 1.34% during trading on Tuesday, hitting $51.47. The stock had a trading volume of 735,253 shares. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $85.78. The stock’s market capitalization is $5.59 billion. The stock’s 50-day moving average is $47.64 and its 200-day moving average is $54.83.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. Analysts predict that Helmerich & Payne will post ($1.30) EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a yield of 5.37%. Helmerich & Payne’s payout ratio is -167.66%.

In related news, CEO John W. Lindsay acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average cost of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank increased its holdings in Helmerich & Payne by 3.1% in the second quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock valued at $21,467,000 after purchasing an additional 11,800 shares during the period. Bristlecone Advisors LLC increased its holdings in Helmerich & Payne by 2.6% in the first quarter. Bristlecone Advisors LLC now owns 19,180 shares of the oil and gas company’s stock valued at $1,277,000 after purchasing an additional 495 shares during the period. Brookstone Capital Management acquired a new stake in Helmerich & Payne in the second quarter valued at $284,000. Andra AP fonden increased its holdings in Helmerich & Payne by 65.7% in the second quarter. Andra AP fonden now owns 29,000 shares of the oil and gas company’s stock valued at $1,576,000 after purchasing an additional 11,500 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Helmerich & Payne by 21.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,799 shares of the oil and gas company’s stock valued at $2,217,000 after purchasing an additional 7,219 shares during the period.

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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