Helmerich & Payne downgraded to Market Perform from Outperform at Cowen Cowen's survey indicates the oil and gas industry is expecting lower North American and international E&P spending and that consensus earnings to need to come down further. As a result, the firm downgraded Helmerich and lowered its price target to $86 from $89.
Helmerich & Payne downgraded to Equal Weight at Stephens As previously reported, Stephens downgraded Helmerich & Payne to Equal Weight from Overweight citing the firm's outlook for reduced U.S. onshore spending. The firm said it remain convicted in H&P as a core holding, but that its "hard to get excited" about shares at these levels. Stephens lowered its price target on Helmerich & Payne to $74 from $79.