Barclays Cuts Helmerich & Payne (NYSE:HP) Price Target to $20.00

Helmerich & Payne (NYSE:HP) had its price objective decreased by Barclays from $24.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target indicates a potential upside of 10.25% from the company’s current price.

Several other analysts have also recently issued reports on HP. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Argus upgraded Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Citigroup reduced their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday. TD Cowen reduced their price objective on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Friday, May 9th. Finally, Susquehanna reduced their price objective on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $30.10.

Helmerich & Payne Stock Down 3.4%

NYSE:HP opened at $18.14 on Wednesday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average is $21.68 and its two-hundred day moving average is $28.45. Helmerich & Payne has a 52 week low of $17.49 and a 52 week high of $42.60. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 5.97, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.63). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. Research analysts anticipate that Helmerich & Payne will post 2.93 EPS for the current year.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after buying an additional 151,196 shares during the period. Franklin Resources Inc. boosted its stake in shares of Helmerich & Payne by 0.4% during the third quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock worth $4,793,000 after buying an additional 666 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Helmerich & Payne by 19.3% during the fourth quarter. Moody National Bank Trust Division now owns 26,807 shares of the oil and gas company’s stock worth $858,000 after buying an additional 4,340 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth about $209,000. Finally, Steph & Co. acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth about $87,000. Hedge funds and other institutional investors 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.