Wall Street Zen Downgrades Helmerich & Payne (NYSE:HP) to Sell

Helmerich & Payne (NYSE:HP) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Other analysts have also issued reports about the stock. Susquehanna upped their price target on shares of Helmerich & Payne from $26.00 to $31.00 and gave the company a “positive” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating and increased their target price for the company from $20.00 to $28.00 in a report on Thursday. TD Cowen raised their price target on Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Tuesday, August 19th. Zacks Research upgraded Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Helmerich & Payne in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.50.

Helmerich & Payne Trading Up 0.1%

HP stock opened at $26.76 on Friday. The company has a market capitalization of $2.66 billion, a PE ratio of -81.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.30. The company’s 50 day moving average price is $24.41 and its two-hundred day moving average price is $19.87.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $972.79 million. During the same period last year, the company posted $0.76 EPS. Helmerich & Payne’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Helmerich & Payne during the 3rd quarter valued at about $228,000. Tcfg Wealth Management LLC lifted its holdings in Helmerich & Payne by 85.9% in the third quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock worth $2,075,000 after buying an additional 43,412 shares during the period. Tweedy Browne Co LLC boosted its position in Helmerich & Payne by 105.7% during the 3rd quarter. Tweedy Browne Co LLC now owns 26,389 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 13,563 shares in the last quarter. Advisory Services Network LLC bought a new stake in Helmerich & Payne during the 3rd quarter valued at approximately $118,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Helmerich & Payne by 3.1% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 157,037 shares of the oil and gas company’s stock worth $3,501,000 after acquiring an additional 4,662 shares during the period. 96.05% of the stock is currently owned by institutional investors.

About Helmerich & Payne

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.