Helmerich & Payne, Inc. (NYSE:HP) Receives $38.57 Average PT from Brokerages

Helmerich & Payne, Inc. (NYSE:HP) has received an average recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $38.57.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup cut 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. Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Royal Bank of Canada cut their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $33.89 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $34.62 and a two-hundred day moving average of $34.66. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.11. The company has a market cap of $3.35 billion, a P/E ratio of 9.85, a PEG ratio of 4.07 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same period in the previous year, the firm posted $0.69 earnings per share. Helmerich & Payne’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Helmerich & Payne will post 3.12 EPS for the current year.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares in the last quarter. Blue Trust Inc. grew its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after buying an additional 854 shares during the last quarter. Quarry LP acquired a new position in Helmerich & Payne in the third quarter worth approximately $48,000. Headlands Technologies LLC grew its position in Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after buying an additional 757 shares during the last quarter. Finally, Eastern Bank acquired a new position in Helmerich & Payne in the third quarter worth approximately $61,000. Institutional investors 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.