Helmerich & Payne (NYSE:HP) Stock Rating Upgraded by Argus

Helmerich & Payne (NYSE:HP) was upgraded by analysts at Argus to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on HP. Royal Bank of Canada reduced their price target on shares of 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. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Barclays dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus target price of $38.75.

Helmerich & Payne Price Performance

Shares of HP opened at $26.96 on Tuesday. The firm has a 50-day simple moving average of $32.64 and a two-hundred day simple moving average of $33.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40. Helmerich & Payne has a 1-year low of $26.35 and a 1-year high of $44.11. The stock has a market cap of $2.68 billion, a PE ratio of 8.87, a P/E/G ratio of 3.41 and a beta of 1.37.

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

Insider Buying and Selling at Helmerich & Payne

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

Institutional Investors Weigh In On Helmerich & Payne

Several institutional 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 valued at $27,000. Covestor Ltd raised its stake in shares of Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 643 shares during the period. Blue Trust Inc. lifted its position in shares of Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares in the last quarter. Quarry LP acquired a new position in shares of Helmerich & Payne during the third quarter worth $48,000. Finally, Eastern Bank purchased a new position in shares of Helmerich & Payne in the third quarter valued at $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.