Royal Bank of Canada upgraded shares of Helmerich & Payne (NYSE:HP) from a sector perform rating to an outperform rating in a research report sent to investors on Thursday, September 20th, Marketbeat.com reports. The firm currently has $90.00 price objective on the oil and gas company’s stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Helmerich & Payne from an underweight rating to a neutral rating and increased their target price for the company from $49.00 to $58.00 in a report on Friday, September 14th. Stephens raised shares of Helmerich & Payne from an equal weight rating to an overweight rating and set a $67.00 price objective for the company in a research note on Monday, July 30th. ValuEngine raised shares of Helmerich & Payne from a hold rating to a buy rating in a research note on Monday, July 30th. Cowen set a $57.00 price objective on shares of Helmerich & Payne and gave the stock a hold rating in a research note on Monday, July 30th. Finally, Piper Jaffray Companies set a $67.00 price objective on shares of Helmerich & Payne and gave the stock a hold rating in a research note on Sunday, July 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $72.29.

NYSE:HP traded up $1.17 during mid-day trading on Thursday, reaching $69.41. The stock had a trading volume of 1,040,793 shares, compared to its average volume of 1,435,044. Helmerich & Payne has a twelve month low of $50.64 and a twelve month high of $75.02. The company has a quick ratio of 2.57, a current ratio of 2.97 and a debt-to-equity ratio of 0.11. The company has a market cap of $7.49 billion, a P/E ratio of -54.65 and a beta of 1.36.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The company had revenue of $648.87 million during the quarter, compared to analysts’ expectations of $617.06 million. During the same period last year, the business posted ($0.25) earnings per share. The company’s quarterly revenue was up 30.1% on a year-over-year basis. Analysts expect that Helmerich & Payne will post 0.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a $0.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.09%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -223.62%.

In related news, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction on Friday, September 14th. The shares were sold at an average price of $65.13, for a total transaction of $736,555.17. Following the transaction, the director now owns 14,874 shares in the company, valued at approximately $968,743.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Lindsay sold 30,000 shares of Helmerich & Payne stock in a transaction on Monday, October 1st. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of HP. Front Barnett Associates LLC raised its holdings in shares of Helmerich & Payne by 0.8% during the second quarter. Front Barnett Associates LLC now owns 123,087 shares of the oil and gas company’s stock valued at $7,848,000 after acquiring an additional 990 shares during the period. Gabelli Funds LLC increased its stake in Helmerich & Payne by 2.9% in the 2nd quarter. Gabelli Funds LLC now owns 35,000 shares of the oil and gas company’s stock valued at $2,232,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Helmerich & Payne by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,204 shares of the oil and gas company’s stock valued at $1,735,000 after buying an additional 1,001 shares during the period. US Bancorp DE increased its stake in Helmerich & Payne by 0.5% in the 2nd quarter. US Bancorp DE now owns 191,620 shares of the oil and gas company’s stock valued at $12,218,000 after buying an additional 1,011 shares during the period. Finally, Rampart Investment Management Company LLC increased its stake in Helmerich & Payne by 84.3% in the 1st quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 1,122 shares during the period. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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