Research analysts at Stephens initiated coverage on shares of Helmerich & Payne (NYSE:HP) in a report released on Tuesday, The Fly reports. The firm set an “equal weight” rating on the oil and gas company’s stock.
Other research analysts have also issued research reports about the company. B. Riley restated a “neutral” rating on shares of Helmerich & Payne in a research report on Wednesday, November 1st. Piper Jaffray Companies restated a “hold” rating and set a $48.00 price objective on shares of Helmerich & Payne in a research report on Friday, November 24th. Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Wednesday, November 29th. Citigroup upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, September 12th. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.67.
Helmerich & Payne (NYSE:HP) traded up $1.87 during mid-day trading on Tuesday, reaching $68.57. The company’s stock had a trading volume of 1,616,000 shares, compared to its average volume of 1,879,400. 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 52 week low of $42.16 and a 52 week high of $81.20. The stock has a market cap of $7,243.99, a P/E ratio of -57.14 and a beta of 1.30.
In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the transaction, the director now owns 12,525 shares in the company, valued at $723,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.23% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HP. Sandy Spring Bank lifted its position in shares of Helmerich & Payne by 36.7% during the 3rd quarter. Sandy Spring Bank now owns 3,540 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 950 shares during the last quarter. Sapphire Star Partners LP acquired a new position in Helmerich & Payne in the 3rd quarter valued at approximately $202,000. Private Advisor Group LLC acquired a new position in Helmerich & Payne in the 3rd quarter valued at approximately $206,000. Meridian Wealth Management LLC acquired a new position in Helmerich & Payne in the 3rd quarter valued at approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Helmerich & Payne in the 3rd quarter valued at approximately $222,000.
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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.
