Citigroup upgraded shares of Helmerich & Payne (NYSE:HP) from a sell rating to a neutral rating in a research report report published on Thursday, January 4th, MarketBeat reports.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Helmerich & Payne from a hold rating to a buy rating and set a $62.00 price target for the company in a research report on Wednesday, November 29th. Tudor Pickering upgraded Helmerich & Payne from a hold rating to a buy rating in a research report on Thursday, December 21st. Deutsche Bank started coverage on Helmerich & Payne in a research report on Tuesday, October 10th. They set a hold rating and a $45.00 target price for the company. Jefferies Group set a $50.00 target price on Helmerich & Payne and gave the stock a hold rating in a research report on Thursday, October 5th. Finally, Cowen set a $50.00 target price on Helmerich & Payne and gave the stock a hold rating in a research report on Wednesday, October 18th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $55.63.

Shares of Helmerich & Payne (NYSE HP) traded down $1.74 on Thursday, reaching $72.59. 441,595 shares of the company’s stock were exchanged, compared to its average volume of 1,945,634. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.19 and a current ratio of 3.28. Helmerich & Payne has a twelve month low of $42.16 and a twelve month high of $75.02. The stock has a market cap of $8,070.00, a price-to-earnings ratio of -60.71 and a beta of 1.30.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.14. Helmerich & Payne had a net margin of 20.30% and a negative return on equity of 1.90%. The business had revenue of $564.10 million during the quarter, compared to analyst estimates of $547.64 million. During the same period last year, the firm posted ($0.33) EPS. The company’s revenue was up 53.0% on a year-over-year basis. equities research analysts expect that Helmerich & Payne will post -0.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.80 dividend on an annualized basis and a yield of 3.86%. Helmerich & Payne’s dividend payout ratio is currently -233.33%.

In related news, Director Chapman Paula Marshall sold 2,555 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the sale, the director now owns 12,525 shares in the company, valued at $723,945. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Helmerich & Payne by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,511 shares of the oil and gas company’s stock worth $36,708,000 after buying an additional 35,865 shares during the period. Utah Retirement Systems raised its stake in shares of Helmerich & Payne by 9.0% during the 2nd quarter. Utah Retirement Systems now owns 19,399 shares of the oil and gas company’s stock worth $1,054,000 after buying an additional 1,600 shares during the period. Principal Financial Group Inc. raised its stake in shares of Helmerich & Payne by 12.6% during the 2nd quarter. Principal Financial Group Inc. now owns 266,659 shares of the oil and gas company’s stock worth $14,491,000 after buying an additional 29,860 shares during the period. Swiss National Bank raised its stake in shares of Helmerich & Payne by 3.1% during the 2nd quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock worth $21,467,000 after buying an additional 11,800 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Helmerich & Payne by 21.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 33,343 shares of the oil and gas company’s stock worth $1,811,000 after buying an additional 5,991 shares during the period.

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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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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