Helmerich & Payne (NYSE:HP) Price Target Raised to $68.00 at Royal Bank of Canada

Helmerich & Payne (NYSE:HPGet Rating) had its target price boosted by stock analysts at Royal Bank of Canada from $63.00 to $68.00 in a research note issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 26.63% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler boosted their price target on Helmerich & Payne from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday. Barclays boosted their price objective on Helmerich & Payne to $58.00 in a research note on Tuesday, August 9th. Morgan Stanley upgraded Helmerich & Payne from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $48.00 to $55.00 in a research note on Monday, September 26th. StockNews.com initiated coverage on Helmerich & Payne in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TheStreet upgraded Helmerich & Payne from a “c” rating to a “b-” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Moderate Buy” and an average target price of $57.33.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $53.70 on Friday. The company has a market cap of $5.65 billion, a P/E ratio of 1,074.21 and a beta of 1.75. The company has a quick ratio of 2.14, a current ratio of 2.54 and a debt-to-equity ratio of 0.20. Helmerich & Payne has a 52 week low of $20.93 and a 52 week high of $54.59. The business has a fifty day simple moving average of $44.97 and a 200-day simple moving average of $44.60.

Helmerich & Payne (NYSE:HPGet Rating) last posted its quarterly earnings results on Thursday, November 17th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. The firm had revenue of $631.33 million during the quarter, compared to the consensus estimate of $597.29 million. During the same quarter in the previous year, the business earned ($0.62) earnings per share. The firm’s quarterly revenue was up 83.6% compared to the same quarter last year. Equities research analysts forecast that Helmerich & Payne will post 3.72 EPS for the current year.

Insider Buying and Selling

In related news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the transaction, the senior vice president now owns 117,395 shares in the company, valued at $5,869,750. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Raymond John Adams III sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total value of $71,250.00. Following the completion of the sale, the senior vice president now directly owns 52,935 shares of the company’s stock, valued at $2,514,412.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the sale, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at $5,869,750. The disclosure for this sale can be found here. Insiders own 4.35% of the company’s stock.

Institutional Trading of Helmerich & Payne

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Helmerich & Payne by 0.7% during the third quarter. Vanguard Group Inc. now owns 11,891,665 shares of the oil and gas company’s stock valued at $439,634,000 after purchasing an additional 86,545 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Helmerich & Payne by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,901,910 shares of the oil and gas company’s stock valued at $181,228,000 after purchasing an additional 75,314 shares during the last quarter. State Street Corp grew its holdings in shares of Helmerich & Payne by 6.7% during the first quarter. State Street Corp now owns 4,281,289 shares of the oil and gas company’s stock valued at $183,154,000 after purchasing an additional 267,025 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Helmerich & Payne by 0.7% during the first quarter. Van ECK Associates Corp now owns 4,135,321 shares of the oil and gas company’s stock valued at $176,909,000 after purchasing an additional 27,828 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Helmerich & Payne by 1.7% during the third quarter. Boston Trust Walden Corp now owns 1,840,723 shares of the oil and gas company’s stock valued at $68,052,000 after purchasing an additional 30,741 shares during the last quarter. 94.61% of the stock is owned by institutional investors.

About Helmerich & Payne

(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.

See Also

The Fly logo

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

Receive News & Ratings for Helmerich & Payne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne and related companies with MarketBeat.com's FREE daily email newsletter.