Helmerich & Payne Gets a Sell Rating from BMO Capital

By Ryan Adsit

BMO Capital analyst Daniel Boyd reiterated a Sell rating on Helmerich & Payne (NYSE: HP) yesterday and set a price target of $54. The company’s shares opened today at $52.03, close to its 52-week low of $49.46.

According to TipRanks.com, Boyd is a 4-star analyst with an average return of 6.0% and a 56.5% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oil States International, and Rice Midstream Partners.

Currently, the analyst consensus on Helmerich & Payne is Moderate Sell and the average price target is $59, representing a 13.4% upside.

In a report released yesterday, Seaport Global also downgraded the stock to Sell with a $44 price target.

Based on Helmerich & Payne’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $405 million and GAAP net loss of $49.26 million. In comparison, last year the company earned revenue of $438 million and had a net profit of $20.72 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HP in relation to earlier this year. Most recently, in March 2017, Thomas Petrie, a Director at HP bought 1,990 shares for a total of $133,658.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Helmerich & Payne, Inc. engages in contract drilling of oil and gas well. It operates through the following segments: U.S. Land, Offshore, and International Land. The U.S. Land segment operates its drilling business primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. The Offshore segment conducts its business in the Gulf of Mexico and Equatorial Guinea. The International Land segment operates in six international locations including Ecuador, Colombia, Argentina, Bahrain, United Arab Emirates, and Mozambique. The company was founded by Walter Helmerich II and William Payne in 1920 and is headquartered in Tulsa, OK.,000LMP-E