Helmerich & Payne (NYSE:HP) Price Target Raised to $52.00

Helmerich & Payne (NYSE:HP) had its price target increased by investment analysts at Susquehanna from $50.00 to $52.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price points to a potential upside of 18.48% from the company’s previous close.

HP has been the topic of a number of other research reports. Barclays downgraded Helmerich & Payne from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Benchmark downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Royal Bank of Canada upped their price target on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Piper Sandler upped their price target on Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group cut their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and an average target price of $42.88.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $43.89 on Monday. Helmerich & Payne has a 52 week low of $30.41 and a 52 week high of $46.55. The business has a 50-day simple moving average of $39.71 and a 200 day simple moving average of $38.64. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 9.42 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $661.81 million. During the same quarter in the prior year, the company posted $1.11 EPS. Helmerich & Payne’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, research analysts forecast that Helmerich & Payne will post 3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its stake in Helmerich & Payne by 221.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 367 shares during the last quarter. Principal Securities Inc. bought a new stake in Helmerich & Payne in the fourth quarter worth about $35,000. Quarry LP bought a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $43,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $45,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Helmerich & Payne by 689.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,145 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

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.