Helmerich & Payne (NYSE:HP) Earns “In-Line” Rating from Evercore ISI

Helmerich & Payne (NYSE:HP)‘s stock had its “in-line” rating reissued by Evercore ISI in a report issued on Wednesday, Marketbeat.com reports. They presently have a $39.00 price target on the oil and gas company’s stock, down from their previous price target of $48.00. Evercore ISI’s price target points to a potential upside of 6.38% from the company’s current price.

Several other research analysts also recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Barclays lowered their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.50.

Helmerich & Payne Stock Down 0.1 %

Shares of NYSE:HP opened at $36.66 on Wednesday. Helmerich & Payne has a 1-year low of $29.46 and a 1-year high of $44.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The stock has a market cap of $3.62 billion, a P/E ratio of 10.66, a P/E/G ratio of 4.22 and a beta of 1.39. The firm has a fifty day moving average price of $33.68 and a 200 day moving average price of $34.19.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Sell-side analysts predict that Helmerich & Payne will post 3.11 EPS for the current year.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of HP. Covestor Ltd boosted its position in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. grew its position in shares of Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $48,000. Eastern Bank purchased a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $61,000. Finally, Steph & Co. acquired a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $87,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.