Helmerich & Payne, Inc. (NYSE:HP)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $53.00 price objective on the oil and gas company’s stock, down from their prior price objective of $65.00. Royal Bank Of Canada’s price target would suggest a potential upside of 16.53% from the company’s previous close.
Several other equities analysts have also issued reports on HP. Cowen and Company restated a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a research note on Friday, August 11th. UBS AG restated a “buy” rating and set a $60.00 price target (down from $84.00) on shares of Helmerich & Payne in a research note on Monday, July 31st. Societe Generale began coverage on Helmerich & Payne in a research note on Thursday, August 31st. They set a “hold” rating and a $46.00 price target on the stock. Jefferies Group LLC set a $54.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Tuesday, June 6th. Finally, Citigroup Inc. lowered Helmerich & Payne from a “neutral” rating to a “sell” rating and lowered their price target for the company from $58.00 to $43.00 in a research note on Friday, July 28th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $55.00.
Helmerich & Payne (NYSE HP) opened at 45.48 on Friday. The firm’s 50-day moving average price is $46.98 and its 200-day moving average price is $57.21. The company’s market cap is $4.94 billion. Helmerich & Payne has a 12-month low of $42.16 and a 12-month high of $85.78.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. Analysts expect that Helmerich & Payne will post ($1.32) EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Helmerich & Payne by 3,318.2% during the 1st quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock worth $730,077,000 after buying an additional 10,646,223 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in Helmerich & Payne during the 1st quarter worth $153,996,000. Brandywine Global Investment Management LLC lifted its holdings in Helmerich & Payne by 2,253.8% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock worth $116,720,000 after buying an additional 2,056,689 shares in the last quarter. Capital International Investors lifted its holdings in Helmerich & Payne by 33.5% during the 2nd quarter. Capital International Investors now owns 5,849,715 shares of the oil and gas company’s stock worth $317,874,000 after buying an additional 1,466,700 shares in the last quarter. Finally, Kiltearn Partners LLP lifted its holdings in Helmerich & Payne by 165.0% during the 2nd quarter. Kiltearn Partners LLP now owns 2,289,302 shares of the oil and gas company’s stock worth $124,401,000 after buying an additional 1,425,513 shares in the last quarter.
About Helmerich & Payne
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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