Helmerich & Payne (NYSE:HP) Given New $42.00 Price Target at Citigroup

Helmerich & Payne (NYSE:HP - Get Free Report) had its target price lifted by investment analysts at Citigroup from $40.00 to $42.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Citigroup's price objective suggests a potential upside of 1.94% from the company's previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 31st. Susquehanna lifted their target price on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a "positive" rating in a research report on Monday, April 8th. Barclays downgraded shares of Helmerich & Payne from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Piper Sandler lifted their target price on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 20th. Finally, Benchmark downgraded shares of Helmerich & Payne from a "buy" rating to a "hold" rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of "Hold" and an average price target of $42.88.

Helmerich & Payne Price Performance

Shares of HP stock traded down $0.43 during midday trading on Tuesday, reaching $41.20. 811,459 shares of the company were exchanged, compared to its average volume of 1,302,126. Helmerich & Payne has a 12 month low of $30.41 and a 12 month high of $46.55. The company has a market cap of $4.07 billion, a P/E ratio of 9.83, a PEG ratio of 8.76 and a beta of 1.51. The company's 50 day moving average price is $40.23 and its two-hundred day moving average price is $38.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.89 and a current ratio of 2.11.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.24. The company had revenue of $677.00 million for the quarter, compared to analysts' expectations of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business's revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. On average, sell-side analysts expect that Helmerich & Payne will post 3.59 earnings per share for the current year.

Institutional Trading of Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its stake in shares of Helmerich & Payne by 221.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company's stock worth $26,000 after buying an additional 367 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Helmerich & Payne in the fourth quarter worth $35,000. Quarry LP acquired a new stake in shares of Helmerich & Payne in the first quarter worth $43,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Helmerich & Payne in the fourth quarter worth $45,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Helmerich & Payne by 689.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,145 shares of the oil and gas company's stock worth $57,000 after buying an additional 1,000 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.