Helmerich & Payne Inc. (HP) Given a $70.00 Price Target at RBC Capital Markets
Helmerich & Payne Inc. (NYSE:HP) received a $70.00 price target from stock analysts at RBC Capital Markets in a research report issued on Friday. The firm currently has a a “buy” rating on the stock. RBC Capital Markets’ price target would indicate a potential upside of 1.24% from the company’s current price.
A number of other research firms also recently issued reports on HP. Zacks Investment Research raised Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Jefferies Group reaffirmed a “sell” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Helmerich & Payne in a research note on Monday, July 11th. DA Davidson assumed coverage on Helmerich & Payne in a research note on Thursday, September 15th. They issued a “buy” rating and a $72.00 price objective on the stock. Citigroup Inc. lifted their price objective on Helmerich & Payne from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Finally, Argus downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.49.
Helmerich & Payne (NYSE:HP) traded down 0.52% during mid-day trading on Friday, hitting $68.78. The stock had a trading volume of 1,341,302 shares. Helmerich & Payne has a 12 month low of $40.02 and a 12 month high of $70.28. The stock’s market cap is $7.43 billion. The stock’s 50-day moving average price is $61.69 and its 200-day moving average price is $62.24.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by $0.06. The business had revenue of $366.50 million for the quarter, compared to the consensus estimate of $298.71 million. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The firm’s revenue for the quarter was down 44.6% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, analysts predict that Helmerich & Payne will post ($1.16) earnings per share for the current year.
In other Helmerich & Payne news, insider John R. Bell sold 9,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $66.35, for a total transaction of $597,150.00. Following the completion of the sale, the insider now owns 45,666 shares of the company’s stock, valued at $3,029,939.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John W. Lindsay sold 15,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $67.45, for a total value of $1,011,750.00. Following the sale, the chief executive officer now directly owns 141,512 shares of the company’s stock, valued at approximately $9,544,984.40. The disclosure for this sale can be found here. Company insiders own 4.23% of the company’s stock.
Large investors have recently bought and sold shares of the company. ING Groep NV purchased a new position in Helmerich & Payne during the first quarter valued at approximately $396,000. Picton Mahoney Asset Management purchased a new position in Helmerich & Payne during the first quarter valued at approximately $2,707,000. M&T Bank Corp raised its position in Helmerich & Payne by 49.4% in the first quarter. M&T Bank Corp now owns 377,736 shares of the company’s stock valued at $22,181,000 after buying an additional 124,901 shares in the last quarter. JPMorgan Chase & Co. raised its position in Helmerich & Payne by 78.1% in the first quarter. JPMorgan Chase & Co. now owns 432,013 shares of the company’s stock valued at $25,368,000 after buying an additional 189,475 shares in the last quarter. Finally, BlackRock Japan Co. Ltd raised its position in Helmerich & Payne by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 146,082 shares of the company’s stock valued at $8,578,000 after buying an additional 1,588 shares in the last quarter.
Helmerich & Payne Company Profile
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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