Citigroup Inc. lowered shares of Helmerich & Payne, Inc. (NYSE:HP) from a neutral rating to a sell rating in a research report sent to investors on Friday, Marketbeat reports. The firm currently has $43.00 price target on the oil and gas company’s stock, down from their prior price target of $58.00.

HP has been the subject of a number of other reports. BMO Capital Markets reaffirmed a sell rating and set a $54.00 price target on shares of Helmerich & Payne in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Helmerich & Payne from a hold rating to a buy rating and set a $75.00 price objective for the company in a research report on Monday, April 3rd. Credit Suisse Group reissued a sell rating and issued a $63.00 price objective on shares of Helmerich & Payne in a research report on Thursday, March 30th. Iberia Capital raised shares of Helmerich & Payne from a sector perform rating to an outperform rating and set a $74.00 price objective for the company in a research report on Thursday, May 4th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Helmerich & Payne from a neutral rating to a sell rating and lowered their price objective for the company from $63.00 to $45.00 in a research report on Monday, May 22nd. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $56.77.

Shares of Helmerich & Payne (NYSE:HP) opened at 50.62 on Friday. Helmerich & Payne has a 12-month low of $49.46 and a 12-month high of $85.78. The stock’s 50 day moving average is $54.11 and its 200-day moving average is $62.50. The stock’s market capitalization is $5.50 billion.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The firm had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. During the same period in the previous year, the company earned ($0.20) EPS. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. On average, analysts expect that Helmerich & Payne will post ($1.32) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This story was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.watchlistnews.com/citigroup-inc-downgrades-helmerich-payne-inc-nysehp-to-sell/1465501.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Wednesday, August 16th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -167.66%.

Several hedge funds have recently added to or reduced their stakes in HP. BlackRock Inc. increased its stake in Helmerich & Payne by 3,318.2% in the first quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock valued at $730,077,000 after buying an additional 10,646,223 shares during the period. Vanguard Group Inc. increased its stake in Helmerich & Payne by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,509,013 shares of the oil and gas company’s stock valued at $699,585,000 after buying an additional 68,948 shares during the period. State Street Corp increased its stake in Helmerich & Payne by 6.0% in the first quarter. State Street Corp now owns 6,284,704 shares of the oil and gas company’s stock valued at $418,376,000 after buying an additional 357,686 shares during the period. Bank of New York Mellon Corp increased its stake in Helmerich & Payne by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 3,374,223 shares of the oil and gas company’s stock valued at $224,623,000 after buying an additional 405,024 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in Helmerich & Payne during the first quarter valued at approximately $153,996,000.

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

Receive News & Ratings for Helmerich & Payne Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.