Helmerich & Payne, Inc. (NYSE:HP) Receives $22.20 Consensus Target Price from Analysts

Key Points

• Analysts have assigned Helmerich & Payne, Inc. a consensus rating of "Reduce," with two sell recommendations, ten holds, and one buy, along with an average price target of $22.20.
• The company reported a revenue increase of 49.2% year-over-year, achieving $1.04 billion for the quarter, alongside an earnings per share (EPS) of $0.22.
• Institutional investors hold 96.05% of Helmerich & Payne's stock, with significant positions recently being increased by hedge funds like Balyasny Asset Management.

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) has earned a consensus recommendation of "Reduce" from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $22.20.

A number of equities analysts have commented on HP shares. The Goldman Sachs Group reduced their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, June 24th. Zacks Research upgraded shares of Helmerich & Payne to a "hold" rating in a report on Monday, August 11th. Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Piper Sandler boosted their target price on shares of Helmerich & Payne from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th.

Helmerich & Payne Stock Up 1.1%

Shares of HP stock traded up $0.22 on Friday, hitting $20.26. The stock had a trading volume of 848,089 shares, compared to its average volume of 1,985,941. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $17.50 and a 200 day moving average price of $19.39. The company has a market cap of $2.01 billion, a PE ratio of -61.33 and a beta of 0.95. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The firm's quarterly revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Research analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the sale, the chief accounting officer owned 21,908 shares in the company, valued at approximately $390,619.64. The trade was a 23.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.51% of the company's stock.

Institutional Investors Weigh In On Helmerich & Payne

A number of large investors have recently modified their holdings of HP. Tower Research Capital LLC TRC grew its stake in shares of Helmerich & Payne by 120.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock worth $113,000 after acquiring an additional 1,932 shares during the last quarter. Northern Trust Corp boosted its position in Helmerich & Payne by 5.1% in the fourth quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock valued at $54,414,000 after buying an additional 82,254 shares during the last quarter. AXA S.A. boosted its position in Helmerich & Payne by 0.9% in the fourth quarter. AXA S.A. now owns 138,821 shares of the oil and gas company's stock valued at $4,445,000 after buying an additional 1,205 shares during the last quarter. Bank of America Corp DE boosted its position in Helmerich & Payne by 542.9% in the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock valued at $16,748,000 after buying an additional 441,688 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Helmerich & Payne by 32.5% in the fourth quarter. Cetera Investment Advisers now owns 19,114 shares of the oil and gas company's stock valued at $612,000 after buying an additional 4,692 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

About Helmerich & Payne

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.