Helmerich & Payne (NYSE:HP) Upgraded at Wall Street Zen

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

HP has been the topic of several other research reports. Citigroup lowered their price objective on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Royal Bank Of Canada lifted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. The Goldman Sachs Group boosted their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Finally, Susquehanna increased their price target on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.50.

Helmerich & Payne Stock Performance

NYSE HP opened at $44.73 on Friday. The firm has a market capitalization of $4.47 billion, a P/E ratio of -31.72 and a beta of 0.61. The stock has a 50-day simple moving average of $35.47 and a two-hundred day simple moving average of $36.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. Helmerich & Payne has a fifty-two week low of $17.30 and a fifty-two week high of $44.80.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. On average, equities analysts forecast that Helmerich & Payne will post -0.12 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -70.92%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Helmerich & Payne during the 2nd quarter valued at approximately $513,336,000. Bank of America Corp DE purchased a new stake in Helmerich & Payne in the 2nd quarter worth $43,370,000. Balyasny Asset Management L.P. increased its holdings in Helmerich & Payne by 174.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after acquiring an additional 1,298,510 shares in the last quarter. Encompass Capital Advisors LLC raised its position in Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after acquiring an additional 1,296,537 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Helmerich & Payne during the second quarter worth $30,606,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.