Helmerich & Payne (NYSE:HP) PT Lowered to $47.00

Helmerich & Payne (NYSE:HP) had its price objective reduced by investment analysts at B. Riley from $63.00 to $47.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. B. Riley’s price target would indicate a potential upside of 15.54% from the company’s current price. B. Riley also issued estimates for Helmerich & Payne’s FY2021 earnings at $0.58 EPS.

Several other analysts have also commented on HP. Evercore ISI raised Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Monday, November 11th. Deutsche Bank initiated coverage on Helmerich & Payne in a report on Wednesday, November 27th. They issued a “sell” rating and a $34.00 price target for the company. Bank of America lowered Helmerich & Payne from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Co cut shares of Helmerich & Payne from an “outperform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research note on Thursday, September 12th. Finally, Morgan Stanley dropped their price objective on shares of Helmerich & Payne from $52.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $48.03.

NYSE:HP opened at $40.68 on Friday. The firm’s fifty day moving average is $39.45 and its two-hundred day moving average is $43.84. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 6.65 and a beta of 1.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.35 and a current ratio of 2.72. Helmerich & Payne has a one year low of $35.74 and a one year high of $64.80.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, November 14th. The oil and gas company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.14. The business had revenue of $649.10 million during the quarter, compared to analyst estimates of $650.92 million. Helmerich & Payne had a positive return on equity of 4.68% and a negative net margin of 1.20%. The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. As a group, equities research analysts predict that Helmerich & Payne will post 0.37 earnings per share for the current fiscal year.

In related news, CEO John W. Lindsay sold 45,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $38.61, for a total value of $1,737,450.00. Following the completion of the sale, the chief executive officer now owns 318,441 shares of the company’s stock, valued at approximately $12,295,007.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John R. Bell sold 9,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $38.67, for a total transaction of $348,030.00. Following the completion of the sale, the vice president now directly owns 81,426 shares of the company’s stock, valued at approximately $3,148,743.42. The disclosure for this sale can be found here. Company insiders own 4.17% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank increased its stake in Helmerich & Payne by 0.4% during the 2nd quarter. Comerica Bank now owns 61,802 shares of the oil and gas company’s stock worth $3,092,000 after buying an additional 222 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of Helmerich & Payne by 2.7% in the second quarter. Alpha Windward LLC now owns 8,716 shares of the oil and gas company’s stock worth $416,000 after acquiring an additional 226 shares during the last quarter. Securian Asset Management Inc boosted its stake in shares of Helmerich & Payne by 2.1% in the second quarter. Securian Asset Management Inc now owns 11,266 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 237 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Helmerich & Payne by 3.5% in the second quarter. Riverhead Capital Management LLC now owns 7,312 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 250 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of Helmerich & Payne by 3.1% during the second quarter. Profund Advisors LLC now owns 8,896 shares of the oil and gas company’s stock worth $450,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 90.50% 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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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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