Helmerich & Payne's (HP) "Neutral" Rating Reaffirmed at Citigroup

Helmerich & Payne (NYSE:HP - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Citigroup in a report released on Monday,Benzinga reports. They currently have a $19.00 price target on the oil and gas company's stock, down from their previous price target of $25.00. Citigroup's target price would suggest a potential upside of 6.61% from the company's current price.

Several other brokerages also recently issued reports on HP. StockNews.com downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Susquehanna reduced their price target on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating on the stock in a report on Monday, April 14th. TD Cowen reduced their price target on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Friday, May 9th. Morgan Stanley cut their price objective on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of "Hold" and a consensus price target of $28.80.

Helmerich & Payne Stock Down 1.9%

Shares of NYSE:HP opened at $17.82 on Monday. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 3.52 and a beta of 0.93. Helmerich & Payne has a fifty-two week low of $17.30 and a fifty-two week high of $42.60. The firm's 50-day simple moving average is $21.53 and its 200-day simple moving average is $28.27. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $961.03 million. During the same period last year, the company earned $0.84 EPS. The firm's revenue for the quarter was up 47.7% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Helmerich & Payne by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company's stock worth $143,209,000 after purchasing an additional 71,168 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Helmerich & Payne by 28.4% in the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock worth $92,809,000 after acquiring an additional 786,250 shares in the last quarter. Earnest Partners LLC increased its position in shares of Helmerich & Payne by 1.0% in the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company's stock worth $111,654,000 after acquiring an additional 35,013 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Helmerich & Payne by 12.2% in the 1st quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company's stock valued at $77,938,000 after acquiring an additional 325,484 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Helmerich & Payne by 24.7% in the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock valued at $70,632,000 after acquiring an additional 535,808 shares during the period. 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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