Helmerich & Payne (NYSE:HP) Given New $24.00 Price Target at Barclays

Helmerich & Payne (NYSE:HP) had its price objective lowered by equities research analysts at Barclays from $36.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price suggests a potential downside of 11.52% from the stock’s current price.

A number of other brokerages also recently commented on HP. Royal Bank of Canada decreased their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Evercore ISI reissued an “in-line” rating and issued a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Argus raised shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.25.

Helmerich & Payne Stock Performance

Shares of HP opened at $27.13 on Wednesday. The firm has a 50-day moving average of $31.74 and a 200-day moving average of $32.97. Helmerich & Payne has a one year low of $25.69 and a one year high of $44.11. The company has a market cap of $2.70 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, equities analysts forecast that Helmerich & Payne will post 2.95 earnings per share for the current year.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay acquired 20,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $27.55 per share, with a total value of $551,000.00. Following the acquisition, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its position in shares of Helmerich & Payne by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 395 shares in the last quarter. LPL Financial LLC raised its position in shares of Helmerich & Payne by 1.9% in the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock valued at $697,000 after buying an additional 408 shares in the last quarter. Napatree Capital LLC raised its position in shares of Helmerich & Payne by 2.5% in the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock valued at $668,000 after buying an additional 511 shares in the last quarter. KBC Group NV raised its position in shares of Helmerich & Payne by 20.3% in the 3rd quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 529 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

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.