Helmerich & Payne’s (HP) Sell Rating Reiterated at SunTrust Banks, Inc.
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.
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