Helmerich & Payne, Inc. (NYSE:HP) Stock Rating Reaffirmed by Cowen and Company

Helmerich & Payne, Inc. (NYSE:HP)‘s stock had its “hold” rating restated by research analysts at Cowen and Company in a research report issued to clients and investors on Friday. They presently have a $50.00 price objective on the oil and gas company’s stock. Cowen and Company’s price objective suggests a potential upside of 8.27% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Iberia Capital downgraded shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $74.00 to $55.00 in a research report on Monday, July 31st. BidaskClub raised shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Credit Suisse Group reissued a “hold” rating and set a $63.00 target price on shares of Helmerich & Payne in a research report on Tuesday, May 2nd. BMO Capital Markets reduced their target price on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a research report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and reduced their target price for the company from $63.00 to $45.00 in a research report on Monday, May 22nd. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.77.

Helmerich & Payne (HP) opened at 46.18 on Friday. Helmerich & Payne has a 12-month low of $46.00 and a 12-month high of $85.78. The company’s 50-day moving average price is $52.55 and its 200-day moving average price is $60.88. The company’s market cap is $5.01 billion.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The firm had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. During the same period in the prior year, the firm earned ($0.20) EPS. The company’s revenue was up 36.0% compared to the same quarter last year. Equities analysts anticipate that Helmerich & Payne will post ($1.32) earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. Ffcm LLC boosted its stake in Helmerich & Payne by 409.2% in the second quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 2,308 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Helmerich & Payne during the first quarter valued at $172,000. Mn Services Vermogensbeheer B.V. boosted its stake in Helmerich & Payne by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,885 shares of the oil and gas company’s stock valued at $180,000 after buying an additional 116 shares during the period. AlphaMark Advisors LLC boosted its stake in Helmerich & Payne by 3.1% in the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 101 shares during the period. Finally, Tompkins Financial Corp boosted its stake in Helmerich & Payne by 244.4% in the first quarter. Tompkins Financial Corp now owns 3,375 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 2,395 shares during the period.

Helmerich & Payne Company Profile

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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