Helmerich & Payne (NYSE:HP) Price Target Cut to $50.00 by Analysts at Susquehanna

Helmerich & Payne (NYSE:HP) had its price target dropped by stock analysts at Susquehanna from $52.00 to $50.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price points to a potential upside of 22.31% from the stock’s previous close.

A number of other brokerages also recently issued reports on HP. Royal Bank of Canada lifted their price target on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Barclays downgraded Helmerich & Payne from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Citigroup lifted their target price on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. 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 report on Friday, January 12th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average price target of $42.63.

Helmerich & Payne Stock Up 1.1 %

NYSE:HP traded up $0.44 during midday trading on Friday, reaching $40.88. The company had a trading volume of 156,752 shares, compared to its average volume of 1,303,281. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.03 and a beta of 1.51. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $40.74 and its 200-day simple moving average is $38.71. Helmerich & Payne has a 12-month low of $30.41 and a 12-month high of $46.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. Helmerich & Payne had a return on equity of 13.28% and a net margin of 12.84%. Helmerich & Payne’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. On average, sell-side analysts anticipate that Helmerich & Payne will post 3.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Helmerich & Payne

Several institutional investors have recently added to or reduced their stakes in HP. Ridgewood Investments LLC boosted its holdings in Helmerich & Payne by 2.5% in the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 308 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in Helmerich & Payne by 5.8% in the 4th quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $230,000 after purchasing an additional 346 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Helmerich & Payne by 26.4% in the 1st quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 355 shares in the last quarter. Marathon Capital Management boosted its holdings in Helmerich & Payne by 0.4% in 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 purchasing an additional 409 shares in the last quarter. Finally, Savant Capital LLC boosted its holdings in Helmerich & Payne by 3.0% in the 4th quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 438 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.