Helmerich & Payne (NYSE:HP) Price Target Increased to $62.00 by Analysts at Susquehanna

Helmerich & Payne (NYSE:HP – Get Rating) had its price target boosted by equities researchers at Susquehanna from $55.00 to $62.00 in a research report issued on Wednesday, The Fly reports. Susquehanna’s price target suggests a potential upside of 16.10% from the stock’s previous close.

A number of other research analysts have also recently commented on HP. Benchmark initiated coverage on Helmerich & Payne in a research note on Monday, April 11th. They issued a “buy” rating and a $53.00 target price for the company. Seaport Res Ptn upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note on Monday, March 14th. StockNews.com initiated coverage on Helmerich & Payne in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Barclays raised their target price on Helmerich & Payne from $33.00 to $52.00 in a research note on Monday, May 2nd. Finally, Piper Sandler raised their target price on Helmerich & Payne from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average price target of $42.10.

NYSE HP opened at $53.40 on Wednesday. Helmerich & Payne has a fifty-two week low of $20.93 and a fifty-two week high of $53.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.21 and a current ratio of 2.43. The stock has a 50 day simple moving average of $47.22 and a two-hundred day simple moving average of $36.58. The stock has a market cap of $5.62 billion, a P/E ratio of -29.83 and a beta of 1.74.

Helmerich & Payne (NYSE:HP – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.15. Helmerich & Payne had a negative return on equity of 6.73% and a negative net margin of 12.30%. The business had revenue of $467.60 million during the quarter, compared to analysts’ expectations of $449.63 million. During the same quarter last year, the business posted ($0.60) EPS. The business’s revenue was up 57.9% on a year-over-year basis. Sell-side analysts predict that Helmerich & Payne will post -0.33 earnings per share for the current year.

In other Helmerich & Payne news, Director Hans Helmerich sold 150,000 shares of Helmerich & Payne stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $42.54, for a total value of $6,381,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.35% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. AdvisorNet Financial Inc increased its holdings in shares of Helmerich & Payne by 90.2% in the 1st quarter. AdvisorNet Financial Inc now owns 677 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 321 shares in the last quarter. Harding Loevner LP grew its holdings in shares of Helmerich & Payne by 316.7% in the first quarter. Harding Loevner LP now owns 946 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 719 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Helmerich & Payne by 29.2% in the first quarter. Lindbrook Capital LLC now owns 1,044 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 236 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Helmerich & Payne by 334.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,087 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 837 shares during the period. Finally, Spire Wealth Management grew its holdings in shares of Helmerich & Payne by 102.2% in the fourth quarter. Spire Wealth Management now owns 1,112 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 562 shares during the period. 88.62% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile (Get Rating)

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.

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