Helmerich & Payne (NYSE:HP) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Helmerich & Payne (NYSE:HP) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on HP. Morgan Stanley lifted their target price on shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Barclays raised their price target on Helmerich & Payne from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Citigroup raised their price target on Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, UBS Group lifted their price objective on Helmerich & Payne from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.36.

Helmerich & Payne Trading Up 0.6%

Shares of HP stock opened at $35.43 on Friday. Helmerich & Payne has a 12 month low of $24.45 and a 12 month high of $48.17. The company has a market cap of $3.54 billion, a PE ratio of -25.12, a price-to-earnings-growth ratio of 0.92 and a beta of 0.63. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $40.11 and its two-hundred day moving average is $37.36.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -70.92%.

Insider Transactions at Helmerich & Payne

In related news, CAO Sara Momper sold 5,054 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $44.28, for a total transaction of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cara Hair sold 11,149 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $44.27, for a total transaction of $493,566.23. Following the transaction, the senior vice president owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. The trade was a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 110,673 shares of company stock worth $4,864,590. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. lifted its stake in shares of Helmerich & Payne by 18.3% in the third quarter. Bessemer Group Inc. now owns 2,008 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 310 shares during the period. Sterling Capital Management LLC grew its position in Helmerich & Payne by 61.2% during the third quarter. Sterling Capital Management LLC now owns 2,358 shares of the oil and gas company’s stock worth $88,000 after buying an additional 895 shares in the last quarter. Strs Ohio bought a new position in Helmerich & Payne during the first quarter valued at about $101,000. Hantz Financial Services Inc. increased its stake in Helmerich & Payne by 18.1% during the third quarter. Hantz Financial Services Inc. now owns 3,168 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 485 shares during the period. Finally, Nykredit A S bought a new position in Helmerich & Payne during the second quarter valued at about $112,000. Institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a drilling contractor that provides services and technology to oil and natural gas companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company has a long history in the drilling industry.

Its operations include contract drilling with land rigs, offshore platform rigs and related drilling solutions. The company is known for its FlexRig fleet and also offers technologies and services designed to support drilling performance and efficiency.

Helmerich & Payne serves customers in the United States and international markets.