Helmerich & Payne (NYSE:HP) Stock Rating Lowered by Wall Street Zen

Helmerich & Payne (NYSE:HP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Thursday.

HP has been the topic of a number of other research reports. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Barclays cut their price objective on shares of Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 14th. The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. TD Cowen reduced their price objective on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Friday, May 9th. Finally, Morgan Stanley reduced their price objective on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.80.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $15.49 on Thursday. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $20.58 and a 200-day moving average of $27.73. The firm has a market cap of $1.54 billion, a P/E ratio of 5.10, a P/E/G ratio of 3.52 and a beta of 0.93. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $42.60.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Helmerich & Payne’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. Sell-side analysts expect that Helmerich & Payne will post 2.93 EPS for the current year.

Institutional Investors Weigh In On Helmerich & Payne

Several large investors have recently bought and sold shares of the business. Intech Investment Management LLC increased its holdings in Helmerich & Payne by 32.1% in the 1st quarter. Intech Investment Management LLC now owns 90,428 shares of the oil and gas company’s stock worth $2,362,000 after buying an additional 21,958 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Helmerich & Payne by 34.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock valued at $5,575,000 after purchasing an additional 54,758 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 852 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Helmerich & Payne during the first quarter valued at approximately $665,000. Finally, Petrus Trust Company LTA purchased a new position in shares of Helmerich & Payne during the first quarter valued at approximately $468,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.