Helmerich & Payne (NYSE:HP) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Helmerich & Payne (NYSE:HP) from a hold rating to a sell rating in a research note released on Sunday.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada upped their target price on Helmerich & Payne from $27.00 to $29.00 and gave the stock a “sector perform” rating in a report on Thursday, November 20th. Zacks Research raised Helmerich & Payne to a “hold” rating in a research note on Monday, August 11th. TD Cowen raised their price objective on shares of Helmerich & Payne from $26.00 to $27.00 and gave the company a “hold” rating in a report on Tuesday, August 19th. Susquehanna boosted their target price on shares of Helmerich & Payne from $26.00 to $31.00 and gave the stock a “positive” rating in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group upgraded shares of Helmerich & Payne from a “sell” rating to a “neutral” rating and upped their price target for the company from $20.00 to $28.00 in a research report on Thursday, November 20th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.10.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $27.60 on Friday. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -83.62 and a beta of 0.94. The firm has a 50 day simple moving average of $24.52 and a 200 day simple moving average of $19.94.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $972.79 million. During the same period in the previous year, the firm posted $0.76 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. Research analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a yield of 3.6%. Helmerich & Payne’s dividend payout ratio is presently -59.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Helmerich & Payne during the third quarter worth $228,000. Tcfg Wealth Management LLC lifted its holdings in Helmerich & Payne by 85.9% in the third quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock valued at $2,075,000 after buying an additional 43,412 shares during the period. Tweedy Browne Co LLC boosted its position in Helmerich & Payne by 105.7% during the third quarter. Tweedy Browne Co LLC now owns 26,389 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 13,563 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Helmerich & Payne during the 3rd quarter worth about $118,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Helmerich & Payne by 3.1% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 157,037 shares of the oil and gas company’s stock worth $3,501,000 after acquiring an additional 4,662 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.