Helmerich & Payne (HP) Upgraded by Seaport Global Securities to “Neutral”

Seaport Global Securities upgraded shares of Helmerich & Payne (NYSE:HP) from a sell rating to a neutral rating in a report released on Friday morning, MarketBeat.com reports. The firm currently has $64.00 target price on the oil and gas company’s stock, up from their prior target price of $61.00.

A number of other analysts have also weighed in on HP. Cowen restated a hold rating and issued a $61.00 target price on shares of Helmerich & Payne in a research note on Monday, December 3rd. ValuEngine upgraded Helmerich & Payne from a hold rating to a buy rating in a research note on Tuesday, November 20th. Zacks Investment Research lowered Helmerich & Payne from a buy rating to a hold rating in a research note on Thursday, November 15th. Piper Jaffray Companies set a $69.00 target price on Helmerich & Payne and gave the company a hold rating in a research note on Monday, November 26th. Finally, Bank of America upgraded Helmerich & Payne from an underperform rating to a neutral rating and lowered their target price for the company from $71.00 to $64.00 in a research note on Monday, December 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Helmerich & Payne has an average rating of Hold and a consensus price target of $72.11.

Helmerich & Payne stock traded up $0.58 during mid-day trading on Friday, hitting $60.74. 1,821,106 shares of the company were exchanged, compared to its average volume of 1,342,181. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.96 and a quick ratio of 2.54. Helmerich & Payne has a 1-year low of $56.72 and a 1-year high of $75.02. The firm has a market capitalization of $6.56 billion, a P/E ratio of 433.86 and a beta of 1.30.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. The company had revenue of $696.83 million during the quarter, compared to analyst estimates of $683.89 million. On average, equities research analysts predict that Helmerich & Payne will post 1.74 EPS for the current fiscal year.

In related news, CEO John W. Lindsay sold 30,000 shares of Helmerich & Payne stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the sale, the director now owns 14,874 shares of the company’s stock, valued at $968,743.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,309 shares of company stock valued at $3,618,765. Corporate insiders own 4.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its holdings in Helmerich & Payne by 13.0% during the third quarter. Teachers Advisors LLC now owns 203,208 shares of the oil and gas company’s stock worth $13,975,000 after buying an additional 23,389 shares during the last quarter. Kentucky Retirement Systems bought a new position in Helmerich & Payne during the third quarter worth about $744,000. AQR Capital Management LLC boosted its holdings in Helmerich & Payne by 208.6% during the third quarter. AQR Capital Management LLC now owns 920,657 shares of the oil and gas company’s stock worth $63,314,000 after buying an additional 622,317 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Helmerich & Payne by 1.7% during the third quarter. Advisors Asset Management Inc. now owns 343,203 shares of the oil and gas company’s stock worth $23,602,000 after buying an additional 5,816 shares during the last quarter. Finally, TLP Group LLC bought a new position in Helmerich & Payne during the third quarter worth about $120,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.

About Helmerich & Payne

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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