Helmerich & Payne (NYSE:HP) PT Lowered to $47.00 at B. Riley

Helmerich & Payne (NYSE:HP) had its price target cut by B. Riley from $63.00 to $47.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the oil and gas company’s stock. B. Riley also issued estimates for Helmerich & Payne’s FY2021 earnings at $0.58 EPS.

Other research analysts also recently issued reports about the company. Deutsche Bank assumed coverage on Helmerich & Payne in a research note on Wednesday, November 27th. They set a sell rating and a $34.00 price target on the stock. Zacks Investment Research lowered shares of Helmerich & Payne from a hold rating to a sell rating and set a $40.00 target price on the stock. in a report on Tuesday, October 15th. Bank of America lowered Helmerich & Payne from a buy rating to a neutral rating in a report on Tuesday, October 8th. Barclays initiated coverage on Helmerich & Payne in a research note on Thursday, September 26th. They set an overweight rating and a $48.00 price objective on the stock. Finally, Capital One Financial reaffirmed an overweight rating on shares of Helmerich & Payne in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $48.03.

HP opened at $40.68 on Friday. Helmerich & Payne has a 1-year low of $35.74 and a 1-year high of $64.80. The company has a current ratio of 2.72, a quick ratio of 2.35 and a debt-to-equity ratio of 0.12. The company has a market cap of $4.41 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 6.80 and a beta of 1.65. The company has a fifty day moving average price of $39.45 and a two-hundred day moving average price of $43.84.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, November 14th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.14. The company had revenue of $649.10 million for the quarter, compared to analysts’ expectations of $650.92 million. Helmerich & Payne had a negative net margin of 1.20% and a positive return on equity of 4.68%. The business’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, research analysts forecast that Helmerich & Payne will post 0.37 EPS for the current fiscal year.

In other news, CEO John W. Lindsay sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $38.61, for a total transaction of $1,737,450.00. Following the completion of the sale, the chief executive officer now owns 318,441 shares in the company, valued at approximately $12,295,007.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John R. Bell sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.67, for a total transaction of $348,030.00. Following the sale, the vice president now owns 81,426 shares of the company’s stock, valued at approximately $3,148,743.42. The disclosure for this sale can be found here. 4.17% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Helmerich & Payne by 4.1% during the second quarter. Vanguard Group Inc. now owns 12,381,816 shares of the oil and gas company’s stock valued at $626,767,000 after purchasing an additional 490,806 shares during the last quarter. State Street Corp lifted its position in shares of Helmerich & Payne by 2.3% during the third quarter. State Street Corp now owns 6,305,496 shares of the oil and gas company’s stock worth $252,661,000 after acquiring an additional 143,450 shares in the last quarter. Invesco Ltd. lifted its position in shares of Helmerich & Payne by 18.7% during the second quarter. Invesco Ltd. now owns 2,156,692 shares of the oil and gas company’s stock worth $109,172,000 after acquiring an additional 339,457 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Helmerich & Payne by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 1,788,824 shares of the oil and gas company’s stock worth $90,551,000 after acquiring an additional 81,159 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Helmerich & Payne by 1.2% in the third quarter. Fisher Asset Management LLC now owns 1,466,963 shares of the oil and gas company’s stock worth $58,781,000 after acquiring an additional 17,495 shares during the period. 90.50% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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