Helmerich & Payne’s (HP) In-Line Rating Reaffirmed at Evercore ISI

Helmerich & Payne, Inc. (NYSE:HP)‘s stock had its “in-line” rating reissued by analysts at Evercore ISI in a research note issued on Tuesday, August 1st. They presently have a $48.00 price target on the oil and gas company’s stock, down from their prior price target of $65.00. Evercore ISI’s price objective suggests a potential upside of 9.84% from the company’s previous close.

A number of other research analysts have also weighed in on the company. BMO Capital Markets reaffirmed a “sell” rating and set a $54.00 price objective on shares of Helmerich & Payne in a report on Thursday, June 22nd. UBS AG reiterated a “buy” rating and set a $60.00 target price (down from $84.00) on shares of Helmerich & Payne in a research report on Monday, July 31st. Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, April 3rd. Iberia Capital upgraded Helmerich & Payne from a “sector perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a research report on Thursday, May 4th. Finally, Goldman Sachs Group, Inc. (The) downgraded Helmerich & Payne from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $63.00 to $45.00 in a research report on Monday, May 22nd. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $56.77.

Helmerich & Payne (NYSE HP) opened at 43.70 on Tuesday. Helmerich & Payne has a 12-month low of $43.00 and a 12-month high of $85.78. The stock’s 50 day moving average is $51.28 and its 200 day moving average is $59.76. The firm’s market cap is $4.74 billion.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, equities research analysts expect that Helmerich & Payne will post ($1.32) EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in HP. BlackRock Inc. boosted its stake in Helmerich & Payne by 3,318.2% in the first quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock worth $730,077,000 after buying an additional 10,646,223 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Helmerich & Payne during the first quarter valued at $153,996,000. Brandywine Global Investment Management LLC raised its position in Helmerich & Payne by 2,253.8% in the second quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock valued at $116,720,000 after buying an additional 2,056,689 shares during the period. American Century Companies Inc. raised its position in Helmerich & Payne by 380.2% in the first quarter. American Century Companies Inc. now owns 1,930,681 shares of the oil and gas company’s stock valued at $128,525,000 after buying an additional 1,528,604 shares during the period. Finally, Capital International Investors raised its position in Helmerich & Payne by 33.5% in the second quarter. Capital International Investors now owns 5,849,715 shares of the oil and gas company’s stock valued at $317,874,000 after buying an additional 1,466,700 shares during the period.

About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

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