Argus Research Upgrades Helmerich & Payne to Buy

Brokerage firm Argus Research Upgrades its rating on Helmerich & Payne(NYSE:HP). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Argus Research was issued on Sep 15, 2016.

In a different note, DA Davidson said it Initiates Coverage on Helmerich & Payne, according to a research note issued on Sep 15, 2016. The shares have been rated ‘Buy’ by the firm. On Sep 12, 2016, Citigroup said it Maintains its rating on Helmerich & Payne. In the research note, the firm Lowers the price-target to $66.00 per share. The shares have been rated ‘Neutral’ by the firm. On Sep 6, 2016, Morgan Stanley said it Upgrades its rating on Helmerich & Payne. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 9, 2016, Citigroup said it Maintains its rating on Helmerich & Payne. In the research note, the firm Lowers the price-target to $70.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 29, 2016, FBR Capital said it Maintains its rating on Helmerich & Payne. In the research note, the firm Lowers the price-target to $66.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Jul 29, 2016, Jefferies said it Maintains its rating on Helmerich & Payne. In the research note, the firm Raises the price-target to $43.00 per share. The shares have been rated ‘Underperform’ by the firm.

Helmerich & Payne (HP) shares turned negative on Tuesdays trading session with the shares closing down -0.86 points or -1.50% at a volume of 17,70,403. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $57.48. The peak price level was also seen at $57.48 while the days lowest was $56.19. Finally the shares closed at $56.46. The 52-week high of the shares is $70.28 while the 52-week low is $40.02. According to the latest information available, the market cap of the company is $6,101 M.

Helmerich & Payne(HP) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $366.49M. Analysts had an estimated revenue of $298.55M. Earnings per share were $-0.20. Analysts had estimated an EPS of $-0.42.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, John W Lindsay (President & CEO) sold 19,000 shares at $67.37 per share price.Also, On Mar 30, 2016, Juan Pablo Tardio (VP & CFO) sold 12,497 shares at $58.28 per share price.On Mar 22, 2016, Hans Helmerich (director) sold 40,000 shares at $60.88 per share price, according to the Form-4 filing with the securities and exchange commission.

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 business segments: U.S. Land Offshore and International Land. Its U.S. Land segment operates drilling operations in Oklahoma California Texas Wyoming Colorado Louisiana Mississippi Pennsylvania Ohio Utah New Mexico Montana North Dakota West Virginia and Nevada. Its offshore operations are conducted in the Gulf of Mexico and Equatorial Guinea. Its International Land segment operates in seven international locations including Ecuador Colombia Argentina Tunisia Bahrain the United Arab Emirates and Mozambique. The Company is also engaged in the ownership development and operation of commercial real estate and the research and development of rotary steerable technology.

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