Piper Sandler Trims Helmerich & Payne (NYSE:HP) Target Price to $39.00

Helmerich & Payne (NYSE:HP - Get Free Report) had its target price lowered by equities research analysts at Piper Sandler from $44.00 to $39.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Piper Sandler's price target suggests a potential upside of 1.43% from the company's previous close.

Several other brokerages have also recently commented on HP. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $37.00 to $33.00 and set a "sell" rating on the stock in a research note on Friday, January 12th. Citigroup boosted their price target on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. Royal Bank of Canada boosted their target price on Helmerich & Payne from $46.00 to $48.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 31st. Finally, Barclays lowered Helmerich & Payne from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.00.

Helmerich & Payne Trading Down 0.1 %

Shares of NYSE HP traded down $0.02 during midday trading on Monday, hitting $38.45. The stock had a trading volume of 806,082 shares, compared to its average volume of 1,300,534. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. Helmerich & Payne has a fifty-two week low of $30.41 and a fifty-two week high of $46.55. The firm has a market cap of $3.80 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51. The company's 50-day simple moving average is $40.77 and its 200 day simple moving average is $38.51.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm had revenue of $687.94 million for the quarter, compared to the consensus estimate of $682.51 million. During the same period in the prior year, the firm posted $1.26 earnings per share. The business's revenue for the quarter was down 10.6% compared to the same quarter last year. Research analysts anticipate that Helmerich & Payne will post 3.56 EPS for the current year.

Insider Activity

In other news, CFO Mark W. Smith sold 16,000 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the sale, the chief financial officer now owns 144,870 shares in the company, valued at approximately $5,865,786.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Mark W. Smith sold 16,000 shares of the company's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares of the company's stock, valued at approximately $5,865,786.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares of the company's stock, valued at approximately $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is owned by corporate insiders.

Institutional Trading of Helmerich & Payne

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Helmerich & Payne by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company's stock valued at $187,668,000 after purchasing an additional 19,622 shares during the period. Earnest Partners LLC grew its stake in shares of Helmerich & Payne by 4.0% in the third quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company's stock valued at $123,508,000 after acquiring an additional 113,735 shares in the last quarter. Pacer Advisors Inc. increased its position in Helmerich & Payne by 130.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company's stock worth $98,535,000 after acquiring an additional 1,541,987 shares during the period. Victory Capital Management Inc. raised its stake in Helmerich & Payne by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company's stock worth $95,211,000 after purchasing an additional 210,321 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Helmerich & Payne by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company's stock valued at $80,218,000 after purchasing an additional 34,863 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.