Helmerich & Payne (NYSE:HP) Price Target Cut to $39.00 by Analysts at Barclays

Helmerich & Payne (NYSE:HP) had its price target reduced by equities research analysts at Barclays from $42.00 to $39.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective suggests a potential upside of 12.23% from the company’s current price.

A number of other equities research analysts have also recently commented on HP. The Goldman Sachs Group dropped their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Citigroup decreased their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada lifted their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Bank of America dropped their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $40.75.

Helmerich & Payne Stock Up 2.0 %

Helmerich & Payne stock traded up $0.69 during trading hours on Wednesday, reaching $34.75. The stock had a trading volume of 573,184 shares, compared to its average volume of 1,382,891. The business’s 50 day moving average price is $32.80 and its 200-day moving average price is $36.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.80. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 3.80 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Helmerich & Payne will post 3.48 EPS for the current year.

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new position in Helmerich & Payne in the 1st quarter valued at about $1,065,000. Russell Investments Group Ltd. raised its stake in shares of Helmerich & Payne by 10.3% during the first quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after purchasing an additional 14,347 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock worth $6,809,000 after purchasing an additional 21,852 shares during the period. Profit Investment Management LLC grew its position in Helmerich & Payne by 51.4% in the 1st quarter. Profit Investment Management LLC now owns 79,792 shares of the oil and gas company’s stock valued at $3,356,000 after buying an additional 27,101 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Helmerich & Payne in the 1st quarter worth $642,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.