Helmerich & Payne (NYSE:HP) Given Underweight Rating at Morgan Stanley

Helmerich & Payne (NYSE:HP)‘s stock had its “underweight” rating reissued by analysts at Morgan Stanley in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $27.00 price objective on the oil and gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 6.85% from the company’s current price.

Several other brokerages have also recently issued reports on HP. Barclays lowered their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Argus raised Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Royal Bank of Canada decreased their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $36.11.

Helmerich & Payne Stock Down 1.8 %

Shares of Helmerich & Payne stock opened at $25.27 on Thursday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a 52-week low of $23.80 and a 52-week high of $44.11. The company has a market capitalization of $2.51 billion, a P/E ratio of 8.31, a P/E/G ratio of 3.52 and a beta of 1.42. The company has a 50 day moving average of $28.02 and a 200 day moving average of $31.61.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, research analysts forecast that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Helmerich & Payne news, CEO John W. Lindsay bought 20,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Belgacem Chariag purchased 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the acquisition, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Helmerich & Payne during the 4th quarter worth $248,000. Hara Capital LLC lifted its stake in shares of Helmerich & Payne by 506.6% in the fourth quarter. Hara Capital LLC now owns 59,864 shares of the oil and gas company’s stock valued at $1,917,000 after purchasing an additional 49,995 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Helmerich & Payne during the fourth quarter worth about $7,702,000. Jefferies Financial Group Inc. acquired a new position in Helmerich & Payne during the fourth quarter worth about $211,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Helmerich & Payne by 5.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 158,687 shares of the oil and gas company’s stock valued at $5,081,000 after buying an additional 8,553 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.