Citigroup Has Lowered Expectations for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price target cut by analysts at Citigroup from $32.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s target price would suggest a potential upside of 32.77% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley restated an “underweight” rating and set a $27.00 price objective on shares of Helmerich & Payne in a report on Thursday, March 27th. Argus upgraded Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Susquehanna decreased their price objective on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a report on Monday, April 14th. StockNews.com downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Finally, Royal Bank of Canada decreased their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.10.

Helmerich & Payne Price Performance

HP opened at $18.83 on Tuesday. The business has a fifty day moving average of $21.83 and a 200 day moving average of $28.56. Helmerich & Payne has a 52-week low of $17.60 and a 52-week high of $42.60. 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 has a market cap of $1.87 billion, a P/E ratio of 6.19, a PEG ratio of 3.52 and a beta of 0.93.

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

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently made changes to their positions in HP. Barclays PLC lifted its stake in shares of Helmerich & Payne by 320.2% during the 3rd quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after purchasing an additional 151,196 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Helmerich & Payne by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock worth $4,793,000 after purchasing an additional 666 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of Helmerich & Payne by 19.3% during the 4th quarter. Moody National Bank Trust Division now owns 26,807 shares of the oil and gas company’s stock worth $858,000 after purchasing an additional 4,340 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Helmerich & Payne in the fourth quarter valued at about $209,000. Finally, Steph & Co. purchased a new stake in Helmerich & Payne in the fourth quarter valued at about $87,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.