Helmerich & Payne (HP) is Upgraded by Morgan Stanley to Equal-Weight

Helmerich & Payne (HP) was Upgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Underweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 6, 2016.

Many Wall Street Analysts have commented on Helmerich & Payne. Shares were Reiterated by FBR Capital on Jul 29, 2016 to “Mkt Perform” and Lowered the Price Target to $ 58 from a previous price target of $66 .Helmerich & Payne was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Jun 21, 2016.

On the company’s financial health, Helmerich & Payne reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.46. The company had revenue of $366.50 million for the quarter, compared to analysts expectations of $308.09 million. The company’s revenue was down -44.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Helmerich & Payne closed down -0.16 points or -0.26% at $60.3 with 18,89,428 shares getting traded on Thursday. Post opening the session at $60, the shares hit an intraday low of $59.46 and an intraday high of $60.475 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jun 10, 2016, John W Lindsay (President & CEO) sold 19,000 shares at $67.37 per share price. According to the SEC, 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.

Helmerich & Payne

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