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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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