Helmerich & Payne (HP) Rating Reiterated by Wells Fargo & Co

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Helmerich & Payne (NYSE:HP)‘s stock had its “buy” rating reiterated by equities research analysts at Wells Fargo & Co in a research note issued on Wednesday, The Fly reports. They presently have a $68.00 price target on the oil and gas company’s stock, up from their previous price target of $61.00. Wells Fargo & Co‘s price target would indicate a potential upside of 21.45% from the stock’s previous close.

Several other analysts have also weighed in on HP. Zacks Investment Research lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Monday. Seaport Global Securities restated a “hold” rating on shares of Helmerich & Payne in a report on Wednesday. ValuEngine upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Finally, Cowen restated a “hold” rating and issued a $61.00 price objective on shares of Helmerich & Payne in a report on Monday, December 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $70.72.

NYSE:HP opened at $55.99 on Wednesday. Helmerich & Payne has a 1 year low of $44.56 and a 1 year high of $74.36. The firm has a market capitalization of $5.89 billion, a PE ratio of 399.93 and a beta of 1.42. The company has a quick ratio of 2.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Tuesday, January 29th. The oil and gas company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.14. The business had revenue of $740.60 million during the quarter, compared to analyst estimates of $716.12 million. Helmerich & Payne had a return on equity of 1.17% and a net margin of 0.06%. As a group, sell-side analysts predict that Helmerich & Payne will post 1.44 earnings per share for the current year.

In related news, VP Michael Lennox sold 6,912 shares of the company’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total transaction of $415,272.96. Following the transaction, the vice president now directly owns 10,360 shares of the company’s stock, valued at $622,428.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John R. Bell sold 13,000 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $60.17, for a total value of $782,210.00. Following the transaction, the vice president now directly owns 63,375 shares in the company, valued at $3,813,273.75. The disclosure for this sale can be found here. Corporate insiders own 4.17% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Radnor Capital Management LLC raised its position in Helmerich & Payne by 0.9% during the fourth quarter. Radnor Capital Management LLC now owns 23,560 shares of the oil and gas company’s stock valued at $1,129,000 after buying an additional 200 shares during the period. Sumitomo Life Insurance Co. raised its position in Helmerich & Payne by 1.6% during the fourth quarter. Sumitomo Life Insurance Co. now owns 15,614 shares of the oil and gas company’s stock valued at $749,000 after buying an additional 243 shares during the period. Tufton Capital Management raised its position in Helmerich & Payne by 0.6% during the fourth quarter. Tufton Capital Management now owns 68,047 shares of the oil and gas company’s stock valued at $3,262,000 after buying an additional 392 shares during the period. Legacy Financial Advisors Inc. raised its position in Helmerich & Payne by 6.4% during the fourth quarter. Legacy Financial Advisors Inc. now owns 6,850 shares of the oil and gas company’s stock valued at $328,000 after buying an additional 412 shares during the period. Finally, Viking Fund Management LLC raised its position in Helmerich & Payne by 11.1% during the fourth quarter. Viking Fund Management LLC now owns 5,000 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 500 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

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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The Fly

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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