Helmerich & Payne (NYSE:HP) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Helmerich & Payne (NYSE:HP) from a sell rating to a hold rating in a research report sent to investors on Saturday.

HP has been the topic of a number of other reports. Morgan Stanley reissued an “underweight” rating and issued a $36.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Royal Bank Of Canada lifted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Citigroup reduced their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. The Goldman Sachs Group increased their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average price target of $40.50.

Helmerich & Payne Stock Performance

NYSE HP opened at $44.17 on Friday. Helmerich & Payne has a 1-year low of $17.30 and a 1-year high of $44.65. The company has a market capitalization of $4.41 billion, a P/E ratio of -31.32 and a beta of 0.61. The business has a 50 day moving average price of $35.36 and a 200 day moving average price of $35.98. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. Sell-side analysts expect that Helmerich & Payne will post -0.12 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Helmerich & Payne’s dividend payout ratio (DPR) is -70.92%.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares during the period. Leonteq Securities AG purchased a new position in shares of Helmerich & Payne during the 4th quarter worth about $26,000. Parallel Advisors LLC boosted its position in shares of Helmerich & Payne by 407.1% in the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Helmerich & Payne by 24.3% in the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 445 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Helmerich & Payne in the first quarter valued at approximately $101,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.