Helmerich & Payne (NYSE:HP) Price Target Cut to $17.00 by Analysts at Barclays

Helmerich & Payne (NYSE:HP - Get Free Report) had its target price cut by research analysts at Barclays from $20.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective would suggest a potential downside of 2.25% from the company's previous close.

Several other equities analysts also recently weighed in on the company. Susquehanna dropped their price target on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. The Goldman Sachs Group cut their target price on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Morgan Stanley decreased their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Finally, Citigroup reissued a "neutral" rating and issued a $19.00 price objective (down previously from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $27.45.

Helmerich & Payne Stock Down 3.9%

Helmerich & Payne stock opened at $17.39 on Friday. Helmerich & Payne has a fifty-two week low of $14.65 and a fifty-two week high of $42.60. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 7.94 and a beta of 0.83. The stock's fifty day moving average is $18.09 and its two-hundred day moving average is $25.34. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.68.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The firm's revenue for the quarter was up 47.7% compared to the same quarter last year. Analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HP. Intech Investment Management LLC increased its stake 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 acquiring an additional 21,958 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Helmerich & Payne by 34.5% during the 1st 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 worth $5,575,000 after purchasing an additional 54,758 shares during the period. Empowered Funds LLC increased its position in Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock worth $247,000 after purchasing an additional 852 shares in the last quarter. Caxton Associates LLP acquired a new stake in Helmerich & Payne during the 1st quarter worth approximately $665,000. Finally, Petrus Trust Company LTA purchased a new position in Helmerich & Payne in the first quarter valued at approximately $468,000. Institutional investors and hedge funds 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.

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