Helmerich & Payne (NYSE:HP) Receives “Sell” Rating from Wells Fargo & Co

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Wells Fargo & Co reissued their sell rating on shares of Helmerich & Payne (NYSE:HP) in a report released on Monday morning, AnalystRatings.com reports.

A number of other research analysts have also recently weighed in on the company. Capital One Financial reiterated an overweight rating on shares of Helmerich & Payne in a report on Tuesday, October 8th. Citigroup lowered Helmerich & Payne from a buy rating to a neutral rating and lowered their price objective for the company from $50.00 to $43.00 in a report on Monday, September 30th. Deutsche Bank started coverage on Helmerich & Payne in a report on Wednesday, November 27th. They issued a sell rating and a $34.00 price objective for the company. B. Riley lowered their price objective on Helmerich & Payne from $63.00 to $47.00 and set a buy rating for the company in a report on Friday. Finally, Bank of America lowered Helmerich & Payne from a buy rating to a neutral rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Helmerich & Payne currently has an average rating of Hold and an average target price of $48.03.

Shares of NYSE:HP traded up $0.39 during midday trading on Monday, reaching $41.12. The company’s stock had a trading volume of 298,036 shares, compared to its average volume of 2,122,403. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 6.80 and a beta of 1.65. The company has a quick ratio of 2.35, a current ratio of 2.72 and a debt-to-equity ratio of 0.12. Helmerich & Payne has a 1 year low of $35.74 and a 1 year high of $64.80. The business has a 50 day moving average price of $39.70 and a 200 day moving average price of $43.62.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, November 14th. The oil and gas company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.14. The business had revenue of $649.10 million during the quarter, compared to the consensus estimate of $650.92 million. Helmerich & Payne had a positive return on equity of 4.68% and a negative net margin of 1.20%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. Sell-side analysts anticipate that Helmerich & Payne will post 0.37 earnings per share for the current fiscal year.

In other news, VP John R. Bell sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.67, for a total transaction of $348,030.00. Following the completion of the transaction, the vice president now directly owns 81,426 shares of the company’s stock, valued at $3,148,743.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $38.61, for a total value of $1,737,450.00. Following the transaction, the chief executive officer now directly owns 318,441 shares of the company’s stock, valued at $12,295,007.01. The disclosure for this sale can be found here. 4.17% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HP. Nomura Holdings Inc. bought a new position in shares of Helmerich & Payne during the 2nd quarter valued at approximately $1,930,000. Susquehanna Fundamental Investments LLC purchased a new position in Helmerich & Payne in the second quarter valued at about $4,358,000. Anchor Bolt Capital LP boosted its holdings in Helmerich & Payne by 3.9% in the second quarter. Anchor Bolt Capital LP now owns 280,316 shares of the oil and gas company’s stock worth $14,190,000 after acquiring an additional 10,557 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Helmerich & Payne by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 1,788,824 shares of the oil and gas company’s stock worth $90,551,000 after purchasing an additional 81,159 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Helmerich & Payne by 3.8% during the second quarter. Northern Trust Corp now owns 1,307,637 shares of the oil and gas company’s stock worth $66,193,000 after purchasing an additional 47,878 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.

Helmerich & Payne Company Profile

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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