SunTrust Banks, Inc. Reaffirms “Sell” Rating for Helmerich & Payne, Inc. (HP)
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.
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