Helmerich & Payne (NYSE:HP) Price Target Raised to $44.00

Key Points

• Susquehanna raised Helmerich & Payne’s price target to $44 from $40 and maintained a positive rating, implying approximately 18.7% upside from the reported $37.07 share price.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, five Hold and two Sell, producing an overall “Hold” rating and an average price target of $40.20.
• Helmerich & Payne reported a quarterly EPS loss of $0.11, missing expectations by $0.20, while revenue of $1.03 billion exceeded estimates but declined 0.6% year over year.

Helmerich & Payne (NYSE:HP - Get Free Report) had its price target hoisted by equities research analysts at Susquehanna from $40.00 to $44.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "positive" rating on the oil and gas company's stock. Susquehanna's target price would suggest a potential upside of 18.70% from the company's current price.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada boosted their target price on Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Citigroup reduced their price target on Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, June 29th. Finally, Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $40.20.

Helmerich & Payne Trading Up 11.4%

Shares of HP opened at $37.07 on Friday. Helmerich & Payne has a twelve month low of $15.51 and a twelve month high of $41.82. The company has a market cap of $3.70 billion, a P/E ratio of -26.29 and a beta of 0.61. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The company's fifty day simple moving average is $34.97 and its 200-day simple moving average is $35.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.34% and a negative net margin of 3.43%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter last year, the business posted $0.22 EPS. Helmerich & Payne's revenue was down .6% compared to the same quarter last year. As a group, analysts expect that Helmerich & Payne will post -0.11 EPS for the current year.

Institutional Trading of Helmerich & Payne

Several institutional investors and hedge funds have recently modified their holdings of HP. Royal Bank of Canada increased its holdings in Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock worth $2,721,000 after purchasing an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company's stock worth $1,531,000 after buying an additional 3,611 shares during the period. NewEdge Advisors LLC grew its position in shares of Helmerich & Payne by 39,685.1% during the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock worth $904,000 after buying an additional 34,526 shares in the last quarter. Empowered Funds LLC grew its position in shares of 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 buying an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 buying an additional 54,758 shares in the last quarter. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.

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