Helmerich & Payne’s (HP) Sell (D+) Rating Reaffirmed at Weiss Ratings

Helmerich & Payne (NYSE:HP)‘s stock had its “sell (d+)” rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on HP. The Goldman Sachs Group raised their price target on Helmerich & Payne from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Monday. Susquehanna cut their target price on Helmerich & Payne from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Tuesday, July 1st. Zacks Research upgraded Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. TD Cowen lifted their target price on Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Tuesday, August 19th. Finally, Piper Sandler lifted their target price on Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $24.20.

Helmerich & Payne Stock Up 0.3%

Helmerich & Payne stock opened at $23.80 on Wednesday. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $37.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The stock has a market cap of $2.37 billion, a PE ratio of -72.12 and a beta of 0.91. The stock’s fifty day moving average is $19.91 and its two-hundred day moving average is $18.92.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm earned $0.92 earnings per share. Helmerich & Payne’s quarterly revenue was up 49.2% on a year-over-year basis. On average, sell-side analysts expect that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Insider Activity

In related news, CAO Sara Marie Momper sold 6,700 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the transaction, the chief accounting officer owned 21,908 shares of the company’s stock, valued at $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in HP. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter worth about $248,000. Park Avenue Securities LLC increased its position in Helmerich & Payne by 21.5% during the 1st quarter. Park Avenue Securities LLC now owns 7,925 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 1,400 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Helmerich & Payne by 101.6% in the 1st quarter. Farther Finance Advisors LLC now owns 12,892 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 6,496 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Helmerich & Payne by 10,355.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 29,381 shares of the oil and gas company’s stock valued at $767,000 after buying an additional 29,100 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of Helmerich & Payne by 3.8% in the first quarter. Yousif Capital Management LLC now owns 38,786 shares of the oil and gas company’s stock valued at $1,013,000 after buying an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

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.