Helmerich & Payne (HP) Stock Rating Lowered by Jefferies Financial Group

Helmerich & Payne (NYSE:HP) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Friday, The Fly reports.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Co upgraded shares of Helmerich & Payne from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Tuesday, December 11th. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $66.00 to $63.00 in a research report on Tuesday, January 15th. Bank of America upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $68.00 in a research report on Thursday, January 31st. Royal Bank of Canada set a $80.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research report on Thursday, December 20th. Finally, Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Monday, November 19th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $67.00.

HP stock opened at $55.27 on Friday. Helmerich & Payne has a 12-month low of $44.56 and a 12-month high of $74.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.70 and a quick ratio of 2.29. The company has a market cap of $6.04 billion, a PE ratio of 394.79 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Tuesday, January 29th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.14. Helmerich & Payne had a net margin of 0.06% and a return on equity of 1.18%. The company had revenue of $740.60 million during the quarter, compared to the consensus estimate of $716.12 million. On average, analysts forecast that Helmerich & Payne will post 1.63 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Arbor Wealth Management LLC acquired a new position in Helmerich & Payne in the 4th quarter worth $30,000. Geode Capital Management LLC lifted its holdings in Helmerich & Payne by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,504,996 shares of the oil and gas company’s stock worth $72,028,000 after buying an additional 117,117 shares in the last quarter. Norges Bank acquired a new position in Helmerich & Payne in the 4th quarter worth $45,764,000. FMR LLC lifted its holdings in Helmerich & Payne by 62.7% in the 4th quarter. FMR LLC now owns 235,813 shares of the oil and gas company’s stock worth $11,304,000 after buying an additional 90,858 shares in the last quarter. Finally, CWM Advisors LLC lifted its holdings in Helmerich & Payne by 6.0% in the 4th quarter. CWM Advisors LLC now owns 4,940 shares of the oil and gas company’s stock worth $237,000 after buying an additional 280 shares in the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Company Profile

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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The Fly

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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