Helmerich & Payne (NYSE:HP) PT Raised to $42.00

Helmerich & Payne (NYSE:HP) had its price target raised by investment analysts at Citigroup from $40.00 to $42.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective would indicate a potential upside of 2.82% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada boosted their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Benchmark lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. The Goldman Sachs Group cut their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a report on Friday, January 12th. Finally, Susquehanna boosted their price target on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.88.

Helmerich & Payne Stock Performance

HP opened at $40.85 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a fifty day moving average price of $40.27 and a 200 day moving average price of $38.62. Helmerich & Payne has a 1 year low of $30.41 and a 1 year high of $46.55. The stock has a market cap of $4.04 billion, a P/E ratio of 9.75, a P/E/G ratio of 8.72 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The firm had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. During the same period in the previous year, the business posted $1.11 EPS. The business’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne will post 3.59 earnings per share for the current year.

Institutional Investors Weigh In On Helmerich & Payne

A number of large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY grew its holdings in shares of Helmerich & Payne by 3.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,313 shares of the oil and gas company’s stock worth $313,000 after buying an additional 226 shares in the last quarter. Ridgewood Investments LLC grew its holdings in shares of Helmerich & Payne by 2.5% in the first quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 308 shares during the period. Palisade Capital Management LP grew its holdings in shares of Helmerich & Payne by 0.4% in the fourth quarter. Palisade Capital Management LP now owns 71,895 shares of the oil and gas company’s stock valued at $2,604,000 after purchasing an additional 317 shares during the period. Captrust Financial Advisors grew its holdings in shares of Helmerich & Payne by 1.9% in the second quarter. Captrust Financial Advisors now owns 17,651 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 334 shares during the period. Finally, AlphaMark Advisors LLC grew its holdings in shares of Helmerich & Payne by 5.8% in the fourth quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $230,000 after purchasing an additional 346 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.