Helmerich & Payne (NYSE:HP) Price Target Cut to $41.00 by Analysts at Royal Bank of Canada

Helmerich & Payne (NYSE:HP) had its target price cut by research analysts at Royal Bank of Canada from $44.00 to $41.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.81% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup lowered their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, Barclays dropped their target price on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.00.

Helmerich & Payne Trading Up 1.7 %

Helmerich & Payne stock traded up $0.57 during midday trading on Friday, hitting $34.51. 986,492 shares of the stock were exchanged, compared to its average volume of 1,381,666. The stock’s 50-day simple moving average is $33.41 and its 200 day simple moving average is $35.22. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 3.84 and a beta of 1.40. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a fifty-two week low of $29.46 and a fifty-two week high of $44.11.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of Helmerich & Payne during the first quarter worth approximately $33,000. Covestor Ltd increased its stake in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares during the period. Blue Trust Inc. lifted its stake in Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the last quarter. Eastern Bank acquired a new stake in shares of Helmerich & Payne during the 3rd quarter valued at $61,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Helmerich & Payne in the first quarter worth $102,000. 96.05% of the stock is owned by institutional investors and hedge funds.

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.