Barclays Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price objective cut by stock analysts at Barclays from $39.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential upside of 7.78% from the company’s current price.

Several other research analysts have also issued reports on HP. Citigroup dropped their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. The Goldman Sachs Group dropped their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, Royal Bank of Canada reduced their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Trading Down 0.7 %

Shares of Helmerich & Payne stock opened at $33.40 on Wednesday. The company’s fifty day moving average price is $33.60 and its two-hundred day moving average price is $35.05. The firm has a market capitalization of $3.30 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 3.62 and a beta of 1.40. Helmerich & Payne has a 52-week low of $29.46 and a 52-week 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.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. On average, analysts expect that Helmerich & Payne will post 3.57 EPS for the current year.

Institutional Trading of Helmerich & Payne

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of Helmerich & Payne by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after purchasing an additional 342 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Helmerich & Payne by 2.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after purchasing an additional 513 shares during the last quarter. KBC Group NV grew its holdings in Helmerich & Payne by 20.3% during the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 529 shares during the period. Covestor Ltd raised its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of Helmerich & Payne by 96.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 757 shares during the period. 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.