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

Helmerich & Payne (NYSE:HP - Get Free Report) had its price target reduced by JPMorgan Chase & Co. from $25.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 11.26% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley reduced their price target on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group reduced their price target on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Citigroup reiterated a "neutral" rating and issued a $19.00 price objective (down previously from $25.00) on shares of Helmerich & Payne in a report on Monday, May 19th. Wall Street Zen downgraded Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Susquehanna dropped their price objective on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of "Hold" and an average target price of $27.73.

Helmerich & Payne Stock Down 0.3%

HP stock traded down $0.04 during mid-day trading on Wednesday, reaching $15.28. The company had a trading volume of 2,082,280 shares, compared to its average volume of 1,634,372. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 5.03, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. The firm has a fifty day simple moving average of $19.58 and a 200 day simple moving average of $26.94. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $42.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Helmerich & Payne's revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. Analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC boosted its position in Helmerich & Payne by 32.1% during the first quarter. Intech Investment Management LLC now owns 90,428 shares of the oil and gas company's stock worth $2,362,000 after purchasing an additional 21,958 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock valued at $5,575,000 after acquiring an additional 54,758 shares in the last quarter. Empowered Funds LLC increased its stake in Helmerich & Payne by 9.9% in the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after purchasing an additional 852 shares during the last quarter. Caxton Associates LLP acquired a new position in Helmerich & Payne in the first quarter valued at $665,000. Finally, Petrus Trust Company LTA acquired a new position in Helmerich & Payne in the first quarter valued at $468,000. 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.