Helmerich & Payne (NYSE:HP) Price Target Lowered to $40.00 at Susquehanna

Helmerich & Payne (NYSE:HP) had its target price decreased by equities research analysts at Susquehanna from $43.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective indicates a potential upside of 25.44% from the company’s previous close.

A number of other research firms also recently issued reports on HP. The Goldman Sachs Group raised their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Morgan Stanley upped their price objective on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Thursday, May 14th. Citigroup cut their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Barclays boosted their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.10.

Helmerich & Payne Trading Up 4.5%

NYSE HP opened at $31.89 on Wednesday. The business has a fifty day simple moving average of $37.39 and a 200 day simple moving average of $34.93. The firm has a market capitalization of $3.19 billion, a P/E ratio of -8.41 and a beta of 0.60. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. Helmerich & Payne has a 12 month low of $15.17 and a 12 month high of $41.82.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The firm had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.Helmerich & Payne’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. On average, analysts predict that Helmerich & Payne will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Leonteq Securities AG bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Helmerich & Payne by 407.1% in the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,787 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Helmerich & Payne by 24.3% in the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 445 shares during the period. Finally, Strs Ohio purchased a new position in Helmerich & Payne during the first quarter valued at approximately $101,000. Hedge funds and other institutional investors 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.