Helmerich & Payne (NYSE:HP) Given New $17.00 Price Target at JPMorgan Chase & Co.

Helmerich & Payne (NYSE:HP - Get Free Report) had its price target lowered by JPMorgan Chase & Co. from $25.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 11.15% from the company's previous close.

Several other brokerages have also issued reports on HP. Royal Bank of Canada dropped their price target on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Argus upgraded shares of Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. TD Cowen dropped their price objective on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a report on Friday, May 9th. Wall Street Zen lowered shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley lowered their target price on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.73.

Helmerich & Payne Stock Performance

Shares of NYSE:HP traded down $0.11 during trading on Wednesday, hitting $15.29. 550,121 shares of the company were exchanged, compared to its average volume of 1,613,982. The stock has a 50 day moving average of $20.18 and a 200 day moving average of $27.38. The company has a market cap of $1.52 billion, a PE ratio of 5.04, a P/E/G ratio of 3.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. Helmerich & Payne has a 52-week low of $14.65 and a 52-week high of $42.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The company's quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. As a group, equities research analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Institutional Investors Weigh In On Helmerich & Payne

Several institutional investors have recently modified their holdings of the business. Kestra Investment Management LLC bought a new stake in Helmerich & Payne in the 4th quarter worth approximately $27,000. Versant Capital Management Inc raised its holdings in Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 867 shares during the period. Covestor Ltd lifted its position in Helmerich & Payne by 61.3% during the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock valued at $76,000 after purchasing an additional 907 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Helmerich & Payne by 82.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock valued at $88,000 after acquiring an additional 1,268 shares during the period. Finally, Sterling Capital Management LLC increased its stake in shares of Helmerich & Payne by 817.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock worth $98,000 after purchasing an additional 2,714 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.

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