Helmerich & Payne (NYSE:HP) Given New $26.00 Price Target at TD Cowen

Helmerich & Payne (NYSE:HP) had its price target cut by investment analysts at TD Cowen from $28.00 to $26.00 in a research report issued on Friday, Marketbeat.com reports. The firm currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential upside of 42.23% from the stock’s current price.

Other research analysts also recently issued reports about the company. Citigroup cut their price target on Helmerich & Payne from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Susquehanna reduced their target price on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Evercore ISI restated an “in-line” rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Finally, Barclays decreased their target price 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. Three 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 MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $31.20.

Helmerich & Payne Stock Down 0.3 %

HP opened at $18.28 on Friday. The firm has a market cap of $1.82 billion, a P/E ratio of 6.01, a PEG ratio of 3.52 and a beta of 0.93. The business’s fifty day simple moving average is $22.20 and its 200 day simple moving average is $28.83. 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.

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

Insider Activity at Helmerich & Payne

In other news, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was acquired 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 owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Belgacem Chariag purchased 37,356 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by insiders.

Institutional Trading of Helmerich & Payne

Large investors have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its stake in shares of Helmerich & Payne by 4.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 395 shares in the last quarter. LPL Financial LLC raised its position in shares of Helmerich & Payne by 1.9% in the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock valued at $697,000 after purchasing an additional 408 shares in the last quarter. Napatree Capital LLC boosted its stake in shares of Helmerich & Payne by 2.5% during the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock valued at $668,000 after buying an additional 511 shares during the last quarter. Ellis Investment Partners LLC grew its position in shares of Helmerich & Payne by 4.5% during the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company’s stock worth $340,000 after buying an additional 558 shares in the last quarter. Finally, Ridgewood Investments LLC increased its stake in shares of Helmerich & Payne by 4.4% in the first quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company’s stock worth $350,000 after buying an additional 569 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.