Helmerich & Payne Upgraded to “Neutral” by Guggenheim (HP)
Helmerich & Payne (NYSE:HP) was upgraded by investment analysts at Guggenheim from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
In other Helmerich & Payne news, VP Gordon K. Helm sold 3,137 shares of Helmerich & Payne stock on the open market in a transaction dated Thursday, June 26th. The stock was sold at an average price of $115.29, for a total value of $361,664.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Helmerich & Payne (NYSE:HP) opened at 116.51 on Wednesday. Helmerich & Payne has a one year low of $62.35 and a one year high of $118.02. The stock has a 50-day moving average of $110.9 and a 200-day moving average of $99.97. The company has a market cap of $12.600 billion and a price-to-earnings ratio of 16.38.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.48 by $0.11. The company had revenue of $893.40 million for the quarter, compared to the consensus estimate of $888.35 million. During the same quarter last year, the company posted $1.39 earnings per share. Helmerich & Payne’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Helmerich & Payne will post $6.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.6875 per share. This represents a $2.75 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a boost from Helmerich & Payne’s previous quarterly dividend of $0.63.
Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets downgraded shares of Helmerich & Payne from an “outperform” rating to a “market perform” rating in a research note on Monday, June 23rd. They now have a $120.00 price target on the stock, up previously from $110.00. They noted that the move was a valuation call. Separately, analysts at Howard Weil raised their price target on shares of Helmerich & Payne from $112.00 to $118.00 in a research note on Thursday, June 5th. They now have a “sector perform” rating on the stock. Finally, analysts at Macquarie initiated coverage on shares of Helmerich & Payne in a research note on Wednesday, June 4th. They set a “neutral” rating and a $106.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $100.36.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.
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