Helmerich & Payne (NYSE:HP) Stock Price Expected to Rise, TD Cowen Analyst Says

Helmerich & Payne (NYSE:HP) had its price objective increased by analysts at TD Cowen from $27.00 to $33.00 in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s target price indicates a potential upside of 19.58% from the company’s previous close.

HP has been the subject of a number of other research reports. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Sunday. Royal Bank Of Canada increased their target price on Helmerich & Payne from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Thursday, November 20th. Zacks Research upgraded shares of Helmerich & Payne to a “hold” rating in a research note on Monday, August 11th. Evercore ISI boosted their price target on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a report on Wednesday, November 19th. Finally, Piper Sandler upped their price target on Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.70.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $27.60 on Wednesday. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $37.30. The firm’s 50-day moving average is $24.52 and its 200 day moving average is $19.94. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -83.62 and a beta of 0.94. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in Helmerich & Payne by 2,433.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 1,582 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 554 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Helmerich & Payne by 184.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,787 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.