Wolfe Research Lowers Helmerich & Payne (NYSE:HP) to Underperform


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Wolfe Research cut shares of Helmerich & Payne (NYSE:HP) from a peer perform rating to an underperform rating in a report released on Monday, The Fly reports.

A number of other research analysts also recently weighed in on HP. Morgan Stanley upped their price target on Helmerich & Payne from $16.00 to $17.00 and gave the stock an equal weight rating in a research note on Monday, November 23rd. JPMorgan Chase & Co. lowered Helmerich & Payne from an overweight rating to a neutral rating and set a $21.00 price objective for the company. in a report on Friday, December 18th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered Helmerich & Payne from a neutral rating to a sell rating and boosted their price objective for the stock from $19.00 to $20.00 in a report on Tuesday, December 15th. ValuEngine raised Helmerich & Payne from a hold rating to a buy rating in a report on Tuesday, December 1st. Finally, Royal Bank of Canada increased their price objective on Helmerich & Payne from $20.00 to $23.00 and gave the company an outperform rating in a report on Monday, November 23rd. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Helmerich & Payne presently has a consensus rating of Hold and a consensus target price of $20.83.

Shares of HP stock opened at $25.05 on Monday. The stock’s fifty day simple moving average is $24.47 and its 200 day simple moving average is $18.84. Helmerich & Payne has a twelve month low of $12.40 and a twelve month high of $46.78. The firm has a market capitalization of $2.70 billion, a P/E ratio of -5.46 and a beta of 2.27. The company has a quick ratio of 3.92, a current ratio of 4.40 and a debt-to-equity ratio of 0.14.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, November 18th. The oil and gas company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.06. Helmerich & Payne had a negative return on equity of 2.80% and a negative net margin of 27.88%. The business had revenue of $208.27 million for the quarter, compared to the consensus estimate of $212.37 million. During the same period in the prior year, the business earned $0.38 EPS. As a group, equities research analysts expect that Helmerich & Payne will post -2.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 12th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.99%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -116.28%.

In related news, SVP Michael Lennox sold 1,437 shares of the stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $24.05, for a total value of $34,559.85. Following the sale, the senior vice president now owns 40,713 shares in the company, valued at $979,147.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 5,890 shares of company stock worth $122,235 in the last quarter. 4.54% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of HP. Thrivent Financial for Lutherans raised its position in Helmerich & Payne by 139.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,101,895 shares of the oil and gas company’s stock valued at $30,793,000 after purchasing an additional 1,223,630 shares in the last quarter. Magnolia Group LLC lifted its holdings in shares of Helmerich & Payne by 171.7% during the third quarter. Magnolia Group LLC now owns 2,001,700 shares of the oil and gas company’s stock valued at $29,325,000 after purchasing an additional 1,265,000 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Helmerich & Payne by 34.1% during the third quarter. Principal Financial Group Inc. now owns 1,387,084 shares of the oil and gas company’s stock valued at $20,321,000 after purchasing an additional 352,816 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Helmerich & Payne by 32.1% during the third quarter. Van ECK Associates Corp now owns 1,359,090 shares of the oil and gas company’s stock valued at $19,911,000 after purchasing an additional 330,236 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Helmerich & Payne by 65.8% during the second quarter. Two Sigma Advisers LP now owns 1,195,600 shares of the oil and gas company’s stock valued at $23,326,000 after purchasing an additional 474,300 shares during the last quarter. Institutional investors own 82.13% of the company’s stock.

About Helmerich & Payne

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.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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