Helmerich & Payne (NYSE:HP) Price Target Cut to $41.00 by Analysts at Royal Bank of Canada

Helmerich & Payne (NYSE:HP) had its price objective lowered by equities researchers at Royal Bank of Canada from $44.00 to $41.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 21.12% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup cut their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Barclays reduced their target price on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.00.

Helmerich & Payne Stock Performance

NYSE HP opened at $33.85 on Friday. The firm has a market cap of $3.34 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 3.84 and a beta of 1.40. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $33.48 and its 200-day moving average is $35.14. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $44.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in Helmerich & Payne in the first quarter worth about $33,000. Covestor Ltd boosted its stake in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Helmerich & Payne by 127.8% in the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares in the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne in the third quarter worth $48,000. Finally, Eastern Bank purchased a new position in Helmerich & Payne in the 3rd quarter worth about $61,000. 96.05% 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.