Morgan Stanley Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price objective reduced by analysts at Morgan Stanley from $27.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 12.22% from the stock’s previous close.

Several other brokerages have also commented on HP. Royal Bank of Canada cut their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays lowered their target price on Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Argus upgraded Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. TD Cowen lowered their target price on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group lowered their target price on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $29.40.

Helmerich & Payne Stock Performance

Shares of HP opened at $17.82 on Friday. 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 has a one year low of $17.49 and a one year high of $42.60. The firm has a market capitalization of $1.77 billion, a P/E ratio of 5.86, a PEG ratio of 3.52 and a beta of 0.93. The business has a fifty day moving average of $21.53 and a 200 day moving average of $28.31.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue was up 47.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HP. Kestra Investment Management LLC purchased a new stake in Helmerich & Payne during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in shares of Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 867 shares during the last quarter. Covestor Ltd grew its stake in shares of Helmerich & Payne by 61.3% during the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 907 shares during the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne during the first quarter valued at approximately $81,000. Finally, GAMMA Investing LLC grew its stake in shares of Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock valued at $83,000 after buying an additional 1,459 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.