Bank of America Lowers Helmerich & Payne (NYSE:HP) Price Target to $40.00

Helmerich & Payne (NYSE:HP) had its target price lowered by analysts at Bank of America from $42.50 to $40.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s price objective would suggest a potential upside of 0.98% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Citigroup boosted their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Susquehanna lowered their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler decreased their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $41.63.

Helmerich & Payne Trading Up 5.3 %

HP stock traded up $2.01 on Monday, reaching $39.61. The company’s stock had a trading volume of 414,516 shares, compared to its average volume of 1,209,668. The business has a fifty day simple moving average of $36.34 and a two-hundred day simple moving average of $37.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16. The firm has a market cap of $3.91 billion, a PE ratio of 11.34, a PEG ratio of 4.14 and a beta of 1.48. Helmerich & Payne has a 12-month low of $32.17 and a 12-month high of $46.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The firm had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. As a group, research analysts forecast that Helmerich & Payne will post 3.46 EPS for the current year.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the sale, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the completion of the sale, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The disclosure for this sale can be found here. Company insiders own 4.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC raised its stake in Helmerich & Payne by 2.5% during the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock valued at $541,000 after acquiring an additional 308 shares during the last quarter. AlphaMark Advisors LLC raised its stake in Helmerich & Payne by 5.8% during the 4th quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 346 shares during the last quarter. Lindbrook Capital LLC raised its stake in Helmerich & Payne by 26.4% during the 1st quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 355 shares during the last quarter. Marathon Capital Management raised its stake in Helmerich & Payne by 0.4% during the 4th quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after acquiring an additional 409 shares during the last quarter. Finally, Savant Capital LLC raised its stake in Helmerich & Payne by 3.0% during the 4th quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after acquiring an additional 438 shares during the last quarter. 96.05% of the stock is 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.