Helmerich & Payne (NYSE:HP) Rating Increased to Hold at Argus

Helmerich & Payne (NYSE:HP) was upgraded by equities researchers at Argus to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada cut their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Evercore ISI reiterated an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Barclays decreased their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.75.

Helmerich & Payne Price Performance

Shares of HP stock opened at $26.96 on Tuesday. The firm’s 50-day moving average is $32.64 and its two-hundred day moving average is $33.44. Helmerich & Payne has a 12 month low of $26.35 and a 12 month high of $44.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40. The company has a market capitalization of $2.68 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Analysts predict that Helmerich & Payne will post 3.11 earnings per share for the current year.

Insider Activity

In other news, Director Belgacem Chariag acquired 37,356 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay acquired 20,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the transaction, the chief executive officer now owns 691,214 shares in the company, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

Large investors have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $27,000. Covestor Ltd lifted its stake in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. boosted its holdings in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares in the last quarter. Quarry LP purchased a new position in Helmerich & Payne in the third quarter valued at approximately $48,000. Finally, Eastern Bank acquired a new stake in Helmerich & Payne during the third quarter worth approximately $61,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.