Susquehanna Boosts Helmerich & Payne (NYSE:HP) Price Target to $31.00

Helmerich & Payne (NYSE:HP) had its target price raised by equities research analysts at Susquehanna from $26.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 16.56% from the company’s current price.

A number of other equities research analysts also recently issued reports on HP. Barclays set a $25.00 price target on shares of Helmerich & Payne and gave the company an “overweight” rating in a research note on Monday, September 22nd. Evercore ISI set a $27.00 price target on Helmerich & Payne in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on Helmerich & Payne from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Monday, October 6th. Citigroup raised their price target on Helmerich & Payne from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.80.

Helmerich & Payne Trading Down 3.7%

Shares of HP stock opened at $26.60 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -80.59 and a beta of 0.94. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $37.30. The stock’s 50-day moving average price is $23.95 and its 200-day moving average price is $19.65.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Equities research analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Institutional Trading of Helmerich & Payne

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC grew its stake in Helmerich & Payne by 37.8% in the first quarter. CWM LLC now owns 5,671 shares of the oil and gas company’s stock worth $148,000 after purchasing an additional 1,555 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Helmerich & Payne by 17.6% in the 1st quarter. Allianz Asset Management GmbH now owns 99,353 shares of the oil and gas company’s stock worth $2,595,000 after buying an additional 14,885 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Helmerich & Payne in the 1st quarter worth $626,000. Cadence Wealth Management LLC grew its position in shares of Helmerich & Payne by 152.3% during the 1st quarter. Cadence Wealth Management LLC now owns 22,141 shares of the oil and gas company’s stock worth $578,000 after buying an additional 13,364 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Helmerich & Payne by 20.0% during the first quarter. Cetera Investment Advisers now owns 22,928 shares of the oil and gas company’s stock valued at $599,000 after buying an additional 3,814 shares during the period. Institutional investors own 96.05% of the company’s stock.

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.