Helmerich & Payne, Inc. (HP) Downgraded by Wells Fargo & Company
Helmerich & Payne, Inc. (NYSE:HP) was downgraded by equities researchers at Wells Fargo & Company from a “market perform” rating to an “underperform” rating in a note issued to investors on Friday, MarketBeat Ratings reports.
Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada set a $80.00 target price on Helmerich & Payne and gave the stock a “hold” rating in a research report on Saturday, July 1st. Bank of America Corporation lowered Helmerich & Payne from a “buy” rating to a “neutral” rating and cut their target price for the stock from $71.00 to $55.00 in a research report on Friday, June 30th. Guggenheim lowered Helmerich & Payne from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, BMO Capital Markets reaffirmed a “sell” rating and issued a $54.00 target price on shares of Helmerich & Payne in a research report on Thursday, June 22nd. Eight equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $60.05.
Shares of Helmerich & Payne (HP) traded down 1.10% during midday trading on Friday, hitting $52.88. The stock had a trading volume of 2,056,399 shares. Helmerich & Payne has a 12-month low of $49.46 and a 12-month high of $85.78. The stock’s market cap is $5.74 billion. The stock has a 50-day moving average price of $54.62 and a 200-day moving average price of $66.44.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, April 27th. The oil and gas company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.07. The firm had revenue of $405.30 million during the quarter, compared to analysts’ expectations of $386.83 million. Helmerich & Payne had a negative return on equity of 3.96% and a negative net margin of 12.09%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. Equities analysts forecast that Helmerich & Payne will post ($1.34) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 5.30%. Helmerich & Payne’s dividend payout ratio is presently -168.67%.
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Several hedge funds have recently made changes to their positions in HP. Gulf International Bank UK Ltd increased its stake in shares of Helmerich & Payne by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 32,302 shares of the oil and gas company’s stock valued at $2,150,000 after buying an additional 200 shares in the last quarter. Creative Planning increased its stake in shares of Helmerich & Payne by 116.9% in the first quarter. Creative Planning now owns 22,668 shares of the oil and gas company’s stock valued at $1,509,000 after buying an additional 12,215 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of Helmerich & Payne by 2.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 98,152 shares of the oil and gas company’s stock valued at $6,534,000 after buying an additional 2,695 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Helmerich & Payne by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 53,350 shares of the oil and gas company’s stock valued at $4,129,000 after buying an additional 500 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Helmerich & Payne during the fourth quarter valued at $271,000.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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