Wall Street Zen Upgrades Helmerich & Payne (NYSE:HP) to Hold

Key Points

• Wall Street Zen upgraded Helmerich & Payne to “Hold” from “Sell,” joining a broader analyst consensus of “Hold.” The average analyst price target is $40.50.
• HP recently traded at $44.17, near its 12-month high of $44.65, after rising 2.5%; its market capitalization is approximately $4.41 billion.
• The company reported a quarterly loss of $0.11 per share, missing estimates by $0.20, while revenue of $1.03 billion exceeded expectations but declined 0.6% year over year.

Helmerich & Payne (NYSE:HP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

HP has been the topic of a number of other reports. The Goldman Sachs Group boosted their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday, June 3rd. Citigroup reduced their target price on Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. Morgan Stanley reiterated an "underweight" rating and set a $36.00 price target on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Helmerich & Payne from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $40.50.

Helmerich & Payne Stock Up 2.5%

HP opened at $44.17 on Friday. The firm has a market cap of $4.41 billion, a P/E ratio of -31.32 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The business has a 50 day moving average price of $35.36 and a 200 day moving average price of $35.98. Helmerich & Payne has a twelve month low of $17.30 and a twelve month high of $44.65.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm's revenue was down .6% on a year-over-year basis. Research analysts forecast that Helmerich & Payne will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Jupiter Topco LLC acquired a new position in Helmerich & Payne during the 2nd quarter valued at about $1,372,000. Hsbc Holdings PLC bought a new position in shares of Helmerich & Payne in the 2nd quarter valued at about $7,206,000. Palisade Capital Management LP acquired a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $1,988,000. Canada Pension Plan Investment Board acquired a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $782,000. Finally, Legal & General Group Plc bought a new stake in shares of Helmerich & Payne during the second quarter worth approximately $7,233,000. Institutional investors own 96.05% of the company's stock.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.

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