Helmerich & Payne (NYSE:HP) Lowered to “Sell” Rating by Wall Street Zen

Helmerich & Payne (NYSE:HP) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Helmerich & Payne in a report on Thursday. Susquehanna upped their price objective on Helmerich & Payne from $26.00 to $31.00 and gave the stock a “positive” rating in a research report on Wednesday. The Goldman Sachs Group raised shares of Helmerich & Payne from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $28.00 in a research note on Thursday. Zacks Research raised shares of Helmerich & Payne to a “hold” rating in a report on Monday, August 11th. Finally, TD Cowen increased their price target on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.50.

Helmerich & Payne Trading Up 2.7%

NYSE HP opened at $26.80 on Friday. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $37.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The company has a market capitalization of $2.66 billion, a PE ratio of -81.21 and a beta of 0.94. The company has a fifty day moving average of $24.29 and a 200 day moving average of $19.80.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $972.79 million. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.Helmerich & Payne’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. Research analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Helmerich & Payne by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock valued at $143,209,000 after buying an additional 71,168 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Helmerich & Payne by 7.7% during the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock valued at $76,741,000 after acquiring an additional 249,425 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Helmerich & Payne by 1.5% during the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock valued at $66,338,000 after acquiring an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Helmerich & Payne by 4.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after acquiring an additional 87,882 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Helmerich & Payne by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock valued at $26,083,000 after acquiring an additional 321,004 shares in the last quarter. Institutional investors and hedge funds own 96.05% 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.