Helmerich & Payne (NYSE:HP) Price Target Raised to $27.00

Key Points

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Helmerich & Payne (NYSE:HP - Get Free Report) had its price objective upped by analysts at TD Cowen from $26.00 to $27.00 in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a "hold" rating on the oil and gas company's stock. TD Cowen's target price would indicate a potential upside of 53.59% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley decreased 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. Royal Bank Of Canada upped their price target on Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Citigroup reiterated a "neutral" rating and set a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Susquehanna decreased their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group decreased their price target on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.20.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $17.58 on Tuesday. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.46. The business has a fifty day moving average price of $16.72 and a 200-day moving average price of $20.26. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The firm has a market capitalization of $1.75 billion, a P/E ratio of -53.27 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company earned $0.92 earnings per share. The business's revenue for the quarter was up 49.2% on a year-over-year basis. As a group, equities research analysts forecast that Helmerich & Payne will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 1,582 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 867 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Helmerich & Payne by 817.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock worth $98,000 after acquiring an additional 2,714 shares in the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne during the first quarter worth approximately $81,000. Finally, GAMMA Investing LLC raised its stake in shares of Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after acquiring an additional 1,459 shares in the last quarter. Hedge funds and other institutional investors 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.

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