Citigroup Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price target lowered by investment analysts at Citigroup from $38.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective would indicate a potential upside of 8.23% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, May 14th. Barclays raised their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Susquehanna lifted their price objective on Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Piper Sandler boosted their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada increased their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.40.

Helmerich & Payne Stock Performance

HP traded down $0.54 during trading on Monday, hitting $33.26. The company’s stock had a trading volume of 167,398 shares, compared to its average volume of 1,453,527. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Helmerich & Payne has a one year low of $15.08 and a one year high of $41.82. The firm has a market cap of $3.32 billion, a PE ratio of -8.79 and a beta of 0.59. The business’s 50 day simple moving average is $37.95 and its 200-day simple moving average is $34.81.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. As a group, sell-side analysts predict that Helmerich & Payne will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Helmerich & Payne

A number of large investors have recently made changes to their positions in HP. Integrated Investment Consultants LLC acquired a new position in shares of Helmerich & Payne in the 1st quarter valued at $225,000. Cozad Asset Management Inc. lifted its position in Helmerich & Payne by 19.8% during the 1st quarter. Cozad Asset Management Inc. now owns 59,435 shares of the oil and gas company’s stock worth $2,141,000 after acquiring an additional 9,839 shares during the period. Bank of America Corp DE grew its stake in Helmerich & Payne by 109.2% during the 1st quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock valued at $60,392,000 after purchasing an additional 874,823 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Helmerich & Payne during the 1st quarter valued at about $319,000. Finally, Amundi increased its holdings in shares of Helmerich & Payne by 48.5% in the first quarter. Amundi now owns 12,283 shares of the oil and gas company’s stock valued at $443,000 after purchasing an additional 4,014 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.