Helmerich & Payne (NYSE:HP) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target on Helmerich & Payne to $47 (from $39) and kept an overweight rating, implying roughly a 25% upside, though the MarketBeat consensus remains a Hold with an average target of $38.70.
• The company missed the latest quarter with EPS of -$0.38 vs. a -$0.06 estimate and revenue of $932.36M (down 8.2% year-over-year), resulting in a negative net margin and negative return on equity.
• Institutional investors added to positions (Dimensional Fund Advisors now owns ~5.74M shares), while an SVP sold 58,771 shares; institutions and hedge funds collectively own about 96% of the stock.

Helmerich & Payne (NYSE:HP - Get Free Report) had its price target raised by equities research analysts at Barclays from $39.00 to $47.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas company's stock. Barclays's price objective suggests a potential upside of 25.39% from the stock's previous close.

A number of other equities analysts have also recently weighed in on HP. Royal Bank Of Canada upped their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, February 6th. Evercore raised shares of Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 target price for the company in a research note on Friday, March 20th. Piper Sandler upped their price target on shares of Helmerich & Payne from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $32.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 14th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of "Hold" and a consensus price target of $38.70.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded up $0.58 during mid-day trading on Friday, hitting $37.48. The company had a trading volume of 225,860 shares, compared to its average volume of 1,543,624. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -9.88 and a beta of 0.62. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $41.68. The company's fifty day moving average is $35.92 and its 200-day moving average is $31.99. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.14%. The firm had revenue of $932.36 million for the quarter, compared to analysts' expectations of $945.60 million. During the same period last year, the firm earned $0.01 earnings per share. Helmerich & Payne's revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts predict that Helmerich & Payne will post 0.11 EPS for the current year.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company's stock, valued at $6,430,069.18. The trade was a 25.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.40% of the company's stock.

Institutional Trading of Helmerich & Payne

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Helmerich & Payne by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company's stock worth $206,660,000 after acquiring an additional 570,500 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Helmerich & Payne by 3.9% in the first quarter. Illinois Municipal Retirement Fund now owns 51,407 shares of the oil and gas company's stock valued at $1,852,000 after purchasing an additional 1,927 shares in the last quarter. Avantax Planning Partners Inc. purchased a new position in Helmerich & Payne in the first quarter valued at approximately $210,000. Principal Financial Group Inc. raised its holdings in Helmerich & Payne by 2.4% during the first quarter. Principal Financial Group Inc. now owns 485,233 shares of the oil and gas company's stock worth $17,483,000 after purchasing an additional 11,416 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Helmerich & Payne by 288.4% during the first quarter. Fifth Third Bancorp now owns 65,386 shares of the oil and gas company's stock worth $2,356,000 after purchasing an additional 48,551 shares in the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

About Helmerich & Payne

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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