Helmerich & Payne, Inc. (NYSE:HP)‘s stock had its “sell” rating reissued by equities researchers at SunTrust Banks, Inc. in a report released on Tuesday. They presently have a $37.00 price target on the oil and gas company’s stock, down from their previous price target of $66.00. SunTrust Banks, Inc.’s price target would indicate a potential downside of 26.03% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Helmerich & Payne in a research note on Thursday, July 20th. BidaskClub raised shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BMO Capital Markets lowered their price target on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a report on Friday, July 14th. Finally, Bank of America Corporation lowered shares of Helmerich & Payne from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $71.00 to $55.00 in a report on Friday, June 30th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.82.

Helmerich & Payne (NYSE:HP) traded down 2.42% during trading on Tuesday, hitting $50.02. The stock had a trading volume of 1,794,866 shares. The company has a 50-day moving average of $47.13 and a 200 day moving average of $55.00. The company’s market cap is $5.43 billion. Helmerich & Payne has a 52 week low of $42.16 and a 52 week high of $85.78.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million during the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. Helmerich & Payne’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the company earned ($0.20) EPS. On average, equities research analysts anticipate that Helmerich & Payne will post ($1.30) EPS for the current year.

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In related news, CEO John W. Lindsay acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was purchased at an average cost of $47.73 per share, with a total value of $238,650.00. Following the acquisition, the chief executive officer now owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 4.23% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of HP. CIBC Asset Management Inc boosted its holdings in Helmerich & Payne by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 11,126 shares of the oil and gas company’s stock worth $605,000 after acquiring an additional 41 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Helmerich & Payne by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,058 shares of the oil and gas company’s stock worth $547,000 after acquiring an additional 57 shares in the last quarter. Murphy Capital Management Inc. grew its stake in shares of Helmerich & Payne by 2.6% in the 2nd quarter. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. grew its stake in shares of Helmerich & Payne by 0.8% in the 2nd quarter. Physicians Financial Services Inc. now owns 12,950 shares of the oil and gas company’s stock worth $704,000 after acquiring an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in shares of Helmerich & Payne by 3.1% in the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 101 shares during the last quarter.

About Helmerich & Payne

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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