Wells Fargo & Co lowered shares of Helmerich & Payne (NYSE:HP) from an outperform rating to an underperform rating in a report issued on Thursday, The Fly reports.

A number of other research firms have also recently issued reports on HP. Bank of America decreased their price objective on shares of Helmerich & Payne from $56.00 to $46.00 and set a buy rating on the stock in a research report on Wednesday, August 28th. Evercore ISI started coverage on shares of Helmerich & Payne in a research report on Thursday, June 6th. They issued an outperform rating on the stock. Susquehanna Bancshares decreased their price objective on shares of Helmerich & Payne from $72.00 to $62.00 in a research report on Wednesday, July 10th. B. Riley restated a buy rating and issued a $63.00 price objective (down previously from $83.00) on shares of Helmerich & Payne in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Helmerich & Payne from $64.00 to $54.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $61.86.

Shares of HP stock traded up $0.77 during mid-day trading on Thursday, reaching $41.53. The stock had a trading volume of 64,840 shares, compared to its average volume of 1,499,674. The stock’s 50-day moving average price is $41.59 and its two-hundred day moving average price is $51.13. Helmerich & Payne has a 52-week low of $36.06 and a 52-week high of $73.74. The firm has a market capitalization of $4.52 billion, a PE ratio of 296.57, a price-to-earnings-growth ratio of 1.22 and a beta of 1.57. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Helmerich & Payne had a negative net margin of 2.54% and a positive return on equity of 4.06%. The firm had revenue of $687.97 million for the quarter, compared to analysts’ expectations of $689.41 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Helmerich & Payne will post 1.53 earnings per share for the current year.

The business also recently declared a — dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.71 per share. This represents a dividend yield of 7.4%. The ex-dividend date is Thursday, November 7th. Helmerich & Payne’s dividend payout ratio is currently 2,028.57%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Helmerich & Payne by 4.1% in the second quarter. Vanguard Group Inc. now owns 12,381,816 shares of the oil and gas company’s stock worth $626,767,000 after purchasing an additional 490,806 shares during the period. Invesco Ltd. grew its holdings in Helmerich & Payne by 18.7% in the second quarter. Invesco Ltd. now owns 2,156,692 shares of the oil and gas company’s stock worth $109,172,000 after purchasing an additional 339,457 shares during the period. Bank of New York Mellon Corp grew its holdings in Helmerich & Payne by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 1,788,824 shares of the oil and gas company’s stock worth $90,551,000 after purchasing an additional 81,159 shares during the period. Geode Capital Management LLC grew its holdings in Helmerich & Payne by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,504,996 shares of the oil and gas company’s stock worth $72,028,000 after purchasing an additional 117,117 shares during the period. Finally, Northern Trust Corp grew its holdings in Helmerich & Payne by 3.8% in the second quarter. Northern Trust Corp now owns 1,307,637 shares of the oil and gas company’s stock worth $66,193,000 after purchasing an additional 47,878 shares during the period. Institutional investors own 90.86% of the company’s stock.

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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