Jefferies Financial Group Downgrades Helmerich & Payne (HP) to Hold

Helmerich & Payne (NYSE:HP) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Friday, The Fly reports.

Several other analysts have also weighed in on HP. Zacks Investment Research lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. ValuEngine upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $62.00 price objective on shares of Helmerich & Payne in a research note on Tuesday, February 5th. Seaport Global Securities reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday, January 30th. Finally, Macquarie set a $45.00 price objective on shares of Helmerich & Payne and gave the company a “sell” rating in a research note on Tuesday, February 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $67.00.

NYSE:HP opened at $55.27 on Friday. The firm has a market capitalization of $6.04 billion, a PE ratio of 394.79 and a beta of 1.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.70 and a quick ratio of 2.29. Helmerich & Payne has a twelve month low of $44.56 and a twelve month high of $74.36.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Tuesday, January 29th. The oil and gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14. The company had revenue of $740.60 million during the quarter, compared to analyst estimates of $716.12 million. Helmerich & Payne had a net margin of 0.06% and a return on equity of 1.18%. Analysts forecast that Helmerich & Payne will post 1.63 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in Helmerich & Payne by 9.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 103,786 shares of the oil and gas company’s stock worth $7,145,000 after acquiring an additional 9,295 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Helmerich & Payne by 41.4% during the 3rd quarter. Private Advisor Group LLC now owns 8,468 shares of the oil and gas company’s stock worth $582,000 after acquiring an additional 2,481 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Helmerich & Payne by 12.7% during the 3rd quarter. Wells Fargo & Company MN now owns 372,949 shares of the oil and gas company’s stock worth $25,648,000 after acquiring an additional 41,993 shares during the last quarter. ING Groep NV boosted its holdings in Helmerich & Payne by 12.3% during the 3rd quarter. ING Groep NV now owns 13,095 shares of the oil and gas company’s stock worth $901,000 after acquiring an additional 1,437 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Helmerich & Payne by 8.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 353,542 shares of the oil and gas company’s stock worth $24,313,000 after acquiring an additional 26,785 shares during the last quarter. 92.93% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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