Helmerich & Payne Receives a Sell from Jefferies

By Jason Carr

Jefferies analyst Brad Handler reiterated a Sell rating on Helmerich & Payne (NYSE: HP) yesterday. The company’s shares closed yesterday at $66.64, close to its 52-week high of $70.39.

According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -4.0% and a 45.4% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Basic Energy Services.

Helmerich & Payne has an analyst consensus of Hold, with a price target consensus of $66.

Based on Helmerich & Payne’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $366 million and GAAP net loss of $21.65 million. In comparison, last year the company earned revenue of $566 million and had a GAAP net loss of $20.62 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Last month, John Lindsay, the President & CEO of HP sold 15,000 shares for a total of $1,011,750.

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 operations drilled primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. The Offshore segment operates in the Gulf of Mexico and Equatorial Guinea. The International Land segment operates in seven international locations: Ecuador, Colombia, Argentina, Tunisia, 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.