Helmerich & Payne (NYSE:HP) Given New $36.00 Price Target at Royal Bank Of Canada

Helmerich & Payne (NYSE:HP) had its price objective lifted by stock analysts at Royal Bank Of Canada from $34.00 to $36.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 0.21% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Citigroup lifted their price target on Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. TD Cowen reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Morgan Stanley reissued an “underweight” rating and set a $28.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $33.60.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock traded up $1.40 during trading on Friday, hitting $35.93. 707,716 shares of the company’s stock were exchanged, compared to its average volume of 1,794,629. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57. The business has a 50-day simple moving average of $30.66 and a 200-day simple moving average of $24.90. Helmerich & Payne has a 52-week low of $14.65 and a 52-week high of $36.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.40 and a current ratio of 1.80.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.Helmerich & Payne’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. On average, research analysts forecast that Helmerich & Payne will post 2.93 EPS for the current year.

Insider Transactions at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director directly owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Helmerich & Payne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HP. EverSource Wealth Advisors LLC increased its stake in shares of Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $26,000. Rothschild Investment LLC increased its position in 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 purchasing an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised 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 worth $39,000 after purchasing an additional 554 shares during the period. Finally, Hantz Financial Services Inc. boosted 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 purchasing an additional 1,187 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.