Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Helmerich & Payne, Inc. (HP)

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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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