Helmerich & Payne (NYSE:HP) Price Target Cut to $32.00 by Analysts at Citigroup

Helmerich & Payne (NYSE:HP) had its price target lowered by equities researchers at Citigroup from $33.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target would indicate a potential upside of 69.85% from the stock’s current price.

Several other brokerages have also issued reports on HP. Argus upgraded Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Morgan Stanley reissued an “underweight” rating and issued a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Barclays cut their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada decreased their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.22.

Helmerich & Payne Stock Down 6.1 %

NYSE HP traded down $1.22 during trading on Tuesday, reaching $18.84. 2,269,971 shares of the company’s stock were exchanged, compared to its average volume of 1,702,155. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a fifty-two week low of $18.59 and a fifty-two week high of $43.68. The company’s fifty day simple moving average is $26.61 and its 200-day simple moving average is $31.31. The firm has a market capitalization of $1.87 billion, a PE ratio of 6.20, a P/E/G ratio of 3.52 and a beta of 1.00.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Sell-side analysts predict that Helmerich & Payne will post 2.93 EPS for the current year.

Insider Transactions at Helmerich & Payne

In other news, CEO John W. Lindsay purchased 20,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in Helmerich & Payne in the fourth quarter worth about $27,000. Versant Capital Management Inc grew its stake in shares of Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 867 shares during the period. Quarry LP acquired a new position in shares of Helmerich & Payne in the 3rd quarter worth approximately $48,000. Covestor Ltd lifted its position in shares of Helmerich & Payne by 61.3% during the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after buying an additional 907 shares during the period. Finally, Steph & Co. acquired a new stake in Helmerich & Payne in the 4th quarter valued at $87,000. 96.05% of the stock is 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.