Helmerich & Payne (HP) Stock Rating Upgraded by Capital One Financial

Capital One Financial upgraded shares of Helmerich & Payne (NYSE:HP) from an equal weight rating to an overweight rating in a research report report published on Friday, Marketbeat Ratings reports.

A number of other analysts also recently weighed in on the company. Stephens upgraded Helmerich & Payne from an equal weight rating to an overweight rating and set a $67.00 price target for the company in a report on Monday, July 30th. Royal Bank of Canada upgraded Helmerich & Payne from a sector perform rating to an outperform rating and set a $90.00 price target for the company in a report on Thursday, September 20th. B. Riley upgraded Helmerich & Payne from a neutral rating to a buy rating and increased their price target for the stock from $68.00 to $83.00 in a report on Monday, September 24th. Piper Jaffray Companies set a $67.00 price target on Helmerich & Payne and gave the stock a hold rating in a report on Sunday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on Helmerich & Payne from $47.00 to $49.00 and gave the stock an underweight rating in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $68.93.

Shares of NYSE:HP opened at $71.93 on Friday. The firm has a market cap of $7.49 billion, a P/E ratio of -56.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.97 and a quick ratio of 2.57. Helmerich & Payne has a 12-month low of $50.30 and a 12-month high of $75.02.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). The company had revenue of $648.87 million for the quarter, compared to the consensus estimate of $617.06 million. Helmerich & Payne had a negative return on equity of 0.37% and a net margin of 19.70%. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) earnings per share. Analysts expect that Helmerich & Payne will post 0.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a yield of 3.95%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -223.62%.

In other Helmerich & Payne news, CEO John W. Lindsay sold 30,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.13, for a total transaction of $736,555.17. Following the transaction, the director now directly owns 14,874 shares in the company, valued at approximately $968,743.62. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of HP. Cambridge Investment Research Advisors Inc. lifted its position in shares of Helmerich & Payne by 29.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,822 shares of the oil and gas company’s stock worth $454,000 after buying an additional 1,555 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $1,018,000. Great West Life Assurance Co. Can lifted its position in shares of Helmerich & Payne by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 84,094 shares of the oil and gas company’s stock worth $5,604,000 after buying an additional 1,123 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Helmerich & Payne by 111.3% during the 1st quarter. Russell Investments Group Ltd. now owns 257,194 shares of the oil and gas company’s stock worth $17,099,000 after buying an additional 135,492 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $446,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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