Helmerich & Payne (HP) Raised to Neutral at Citigroup
Helmerich & Payne (NYSE:HP) was upgraded by equities researchers at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday.
Several other research analysts also recently commented on HP. B. Riley reaffirmed a “neutral” rating on shares of Helmerich & Payne in a research note on Wednesday, November 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $53.00 price target (down previously from $65.00) on shares of Helmerich & Payne in a research note on Friday, September 8th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 price target on shares of Helmerich & Payne in a research note on Friday, November 24th. Zacks Investment Research raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, November 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 12th. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $55.38.
Helmerich & Payne (NYSE HP) traded up $0.30 during trading on Thursday, hitting $65.65. 2,463,200 shares of the stock traded hands, compared to its average volume of 1,917,750. The company has a market cap of $7,097.37, a price-to-earnings ratio of -54.71 and a beta of 1.30. The company has a quick ratio of 3.19, a current ratio of 3.59 and a debt-to-equity ratio of 0.12. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $81.30.
In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $57.80, for a total transaction of $147,679.00. Following the transaction, the director now owns 12,525 shares of the company’s stock, valued at approximately $723,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its position in shares of Helmerich & Payne by 664.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 716,399 shares of the oil and gas company’s stock worth $37,332,000 after buying an additional 622,696 shares during the last quarter. California Public Employees Retirement System boosted its stake in Helmerich & Payne by 49.5% in the 3rd quarter. California Public Employees Retirement System now owns 366,038 shares of the oil and gas company’s stock worth $19,074,000 after purchasing an additional 121,138 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Helmerich & Payne in the 3rd quarter worth approximately $241,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Helmerich & Payne by 17.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,961 shares of the oil and gas company’s stock worth $571,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Helmerich & Payne in the 3rd quarter worth approximately $329,000.
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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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