Helmerich & Payne's (HP) Sell (D+) Rating Reaffirmed at Weiss Ratings

Helmerich & Payne (NYSE:HP - Get Free Report)'s stock had its "sell (d+)" rating reissued by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the company. Barclays set a $25.00 price objective on Helmerich & Payne and gave the stock an "overweight" rating in a research report on Monday, September 22nd. Citigroup increased their price objective on Helmerich & Payne from $17.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday. TD Cowen increased their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Tuesday, August 19th. Piper Sandler increased their price objective on Helmerich & Payne from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Finally, The Goldman Sachs Group raised their price target on Helmerich & Payne from $18.00 to $20.00 and gave the stock a "sell" rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $24.20.

Helmerich & Payne Price Performance

NYSE:HP opened at $23.80 on Wednesday. The stock has a market cap of $2.37 billion, a PE ratio of -72.12 and a beta of 0.91. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The stock has a 50 day moving average price of $19.91 and a 200 day moving average price of $18.92.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The firm's revenue for the quarter was up 49.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. Equities research analysts expect that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Insider Activity

In other news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the sale, the chief accounting officer directly owned 21,908 shares in the company, valued at approximately $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.51% of the company's stock.

Institutional Trading of Helmerich & Payne

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 1,582 shares in the last quarter. Quarry LP acquired a new stake in shares of Helmerich & Payne in the first quarter valued at $81,000. GAMMA Investing LLC raised its stake in shares of Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 1,459 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Helmerich & Payne in the second quarter valued at $64,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Helmerich & Payne by 27.4% in the second quarter. SBI Securities Co. Ltd. now owns 4,940 shares of the oil and gas company's stock valued at $75,000 after acquiring an additional 1,063 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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