Helmerich & Payne (NYSE:HP) PT Lowered to $39.00 at Piper Sandler

Helmerich & Payne (NYSE:HP) had its price objective lowered by equities research analysts at Piper Sandler from $44.00 to $39.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s price target indicates a potential upside of 1.38% from the company’s current price.

Other analysts have also issued research reports about the company. Susquehanna lowered their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a report on Friday, April 26th. Royal Bank of Canada upped their target price on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Barclays lowered Helmerich & Payne from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $44.00 to $40.00 in a report on Wednesday, January 10th. Citigroup increased their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $42.00.

Helmerich & Payne Trading Up 1.7 %

Shares of NYSE HP opened at $38.47 on Monday. The stock has a market capitalization of $3.80 billion, a P/E ratio of 10.99, a PEG ratio of 1.85 and a beta of 1.51. The business’s 50 day moving average is $40.77 and its two-hundred day moving average is $38.51. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92.

Helmerich & Payne (NYSE:HP) last released 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 for the quarter, compared to the consensus estimate of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. As a group, research analysts expect that Helmerich & Payne will post 3.56 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC raised its position in shares of Helmerich & Payne by 2.5% during the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 308 shares during the period. AlphaMark Advisors LLC raised its position in shares of Helmerich & Payne by 5.8% during the 4th quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $230,000 after buying an additional 346 shares during the period. Lindbrook Capital LLC raised its position in shares of Helmerich & Payne by 26.4% during the 1st quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 355 shares during the period. Marathon Capital Management raised its position in shares of Helmerich & Payne by 0.4% during the 4th quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after buying an additional 409 shares during the period. Finally, Savant Capital LLC raised its position in shares of Helmerich & Payne by 3.0% during the 4th quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 438 shares during the period. 96.05% of the stock is currently 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.