Piper Sandler Lowers Helmerich & Payne (NYSE:HP) Price Target to $36.00

Helmerich & Payne (NYSE:HP) had its price objective reduced by investment analysts at Piper Sandler from $39.00 to $36.00 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 objective points to a potential downside of 12.00% from the company’s previous close.

Several other brokerages have also weighed in on HP. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Citigroup upped their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Susquehanna lowered their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $41.63.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $40.91 on Monday. The company has a 50-day simple moving average of $36.41 and a 200-day simple moving average of $37.99. Helmerich & Payne has a one year low of $32.17 and a one year high of $46.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 4.14 and a beta of 1.48.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The business had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. Helmerich & Payne’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. On average, analysts predict that Helmerich & Payne will post 3.46 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Helmerich & Payne

A number of hedge funds and other institutional investors have recently made changes to their positions in HP. Ridgewood Investments LLC grew its stake in shares of Helmerich & Payne by 2.5% in the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 308 shares during the last quarter. AlphaMark Advisors LLC grew its position in Helmerich & Payne by 5.8% during the fourth quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $230,000 after purchasing an additional 346 shares in the last quarter. Lindbrook Capital LLC grew its position in Helmerich & Payne by 26.4% during the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 355 shares in the last quarter. Marathon Capital Management grew its position in Helmerich & Payne by 0.4% during the fourth quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after purchasing an additional 409 shares in the last quarter. Finally, Savant Capital LLC grew its position in Helmerich & Payne by 3.0% during the fourth quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 438 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Company Profile

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.