Helmerich & Payne (NYSE:HP) Price Target Cut to $33.00

Helmerich & Payne (NYSE:HP) had its price target dropped by Citigroup from $41.00 to $33.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s target price would indicate a potential upside of 10.55% from the company’s previous close.

A number of other research analysts have also weighed in on HP. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Bank of America reduced their price target on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.88.

Helmerich & Payne Stock Down 2.5 %

Helmerich & Payne stock opened at $29.85 on Friday. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $46.55. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 8.53, a P/E/G ratio of 3.29 and a beta of 1.42. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $35.09 and a 200 day simple moving average of $37.42.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same period in the previous year, the business earned $1.09 EPS. Helmerich & Payne’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Helmerich & Payne will post 3.57 earnings per share for the current year.

Institutional Trading of Helmerich & Payne

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Helmerich & Payne by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock worth $201,543,000 after acquiring an additional 176,179 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Helmerich & Payne by 9.4% in the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after purchasing an additional 327,802 shares during the last quarter. Earnest Partners LLC lifted its stake in Helmerich & Payne by 15.7% in the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after purchasing an additional 471,420 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Helmerich & Payne by 1.3% in the second quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock worth $80,320,000 after purchasing an additional 27,660 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Helmerich & Payne by 38.1% in the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after purchasing an additional 513,647 shares during the last quarter. 96.05% of the stock is owned by 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.