Helmerich & Payne, Inc. (HP) Earns “Buy” Rating from UBS AG

UBS AG reissued their buy rating on shares of Helmerich & Payne, Inc. (NYSE:HP) in a report published on Monday, July 31st, www.flashratings.com reports. The brokerage currently has a $60.00 target price on the oil and gas company’s stock, down from their previous target price of $84.00.

Several other brokerages also recently issued reports on HP. Jefferies Group LLC upgraded shares of Helmerich & Payne from an underperform rating to a hold rating and cut their price objective for the stock from $55.00 to $54.00 in a research report on Wednesday, May 3rd. Credit Suisse Group restated a hold rating and set a $63.00 price objective on shares of Helmerich & Payne in a research report on Tuesday, May 2nd. Morgan Stanley downgraded shares of Helmerich & Payne from an equal weight rating to an underweight rating and cut their price objective for the stock from $85.00 to $56.00 in a research report on Wednesday, June 21st. BMO Capital Markets restated a sell rating and set a $54.00 price objective on shares of Helmerich & Payne in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada restated a hold rating on shares of Helmerich & Payne in a research report on Friday, May 26th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Helmerich & Payne has a consensus rating of Hold and a consensus price target of $57.10.

Helmerich & Payne (NYSE HP) opened at 46.18 on Monday. Helmerich & Payne has a 12-month low of $46.00 and a 12-month high of $85.78. The firm has a 50-day moving average price of $52.55 and a 200 day moving average price of $60.88. The firm’s market cap is $5.01 billion.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The firm had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the business posted ($0.20) earnings per share. Equities research analysts forecast that Helmerich & Payne will post ($1.32) EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 6.06%. Helmerich & Payne’s dividend payout ratio is currently -167.66%.

A number of hedge funds and other institutional investors have recently made changes to their positions in HP. Toronto Dominion Bank increased its position in shares of Helmerich & Payne by 57.0% in the first quarter. Toronto Dominion Bank now owns 29,291 shares of the oil and gas company’s stock valued at $1,950,000 after buying an additional 10,637 shares in the last quarter. Bristlecone Advisors LLC boosted its stake in Helmerich & Payne by 2.6% in the first quarter. Bristlecone Advisors LLC now owns 19,180 shares of the oil and gas company’s stock worth $1,277,000 after buying an additional 495 shares during the last quarter. Smith Asset Management Group LP boosted its stake in Helmerich & Payne by 1.0% in the first quarter. Smith Asset Management Group LP now owns 209,207 shares of the oil and gas company’s stock worth $13,941,000 after buying an additional 2,027 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Helmerich & Payne by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 53,350 shares of the oil and gas company’s stock worth $4,129,000 after buying an additional 500 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Helmerich & Payne by 33.6% in the first quarter. US Bancorp DE now owns 303,054 shares of the oil and gas company’s stock worth $20,174,000 after buying an additional 76,291 shares during the last quarter.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

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