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.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The firm had revenue of $532.30 million during the quarter, compared to analyst estimates of $493.78 million. Helmerich & Payne had a negative net margin of 7.16% and a negative return on equity of 2.96%. The business’s revenue was up 60.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) EPS. equities analysts forecast that Helmerich & Payne will post -0.43 EPS for the current year.

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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