Helmerich & Payne (NYSE:HP) Price Target Raised to $42.00 at Citigroup

Helmerich & Payne (NYSE:HP) had its target price increased by Citigroup from $40.00 to $42.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price target would suggest a potential upside of 3.22% from the stock’s previous close.

A number of other equities analysts also recently issued reports on HP. Susquehanna lifted their price target on Helmerich & Payne from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Monday, April 8th. Benchmark downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Piper Sandler lifted their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $42.88.

Helmerich & Payne Stock Down 2.3 %

Shares of HP stock traded down $0.94 on Tuesday, reaching $40.69. 98,119 shares of the company were exchanged, compared to its average volume of 1,292,149. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 8.76 and a beta of 1.51. The company has a 50-day moving average of $40.18 and a 200-day moving average of $38.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. Helmerich & Payne has a one year low of $30.41 and a one year high of $46.55.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. Analysts anticipate that Helmerich & Payne will post 3.59 earnings per share for the current year.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in Helmerich & Payne by 1.8% in the first quarter. BlackRock Inc. now owns 17,910,973 shares of the oil and gas company’s stock worth $640,317,000 after purchasing an additional 319,188 shares during the period. Vanguard Group Inc. grew its holdings in Helmerich & Payne by 0.7% in the third quarter. Vanguard Group Inc. now owns 11,891,665 shares of the oil and gas company’s stock worth $439,634,000 after purchasing an additional 86,545 shares during the period. Dimensional Fund Advisors LP grew its holdings in Helmerich & Payne by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock worth $187,668,000 after purchasing an additional 19,622 shares during the period. State Street Corp grew its holdings in Helmerich & Payne by 7.7% in the first quarter. State Street Corp now owns 4,335,243 shares of the oil and gas company’s stock worth $154,985,000 after purchasing an additional 310,770 shares during the period. Finally, Earnest Partners LLC grew its holdings in Helmerich & Payne by 4.0% in the third quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after purchasing an additional 113,735 shares during the period. 96.05% of the stock is owned by institutional investors.

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.