Helmerich & Payne (NYSE:HP) Stock Rating Reaffirmed by Benchmark

Helmerich & Payne (NYSE:HP)‘s stock had its “hold” rating reissued by stock analysts at Benchmark in a note issued to investors on Thursday, Benzinga reports.

Several other research firms have also recently commented on HP. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Susquehanna raised their price target on Helmerich & Payne from $50.00 to $52.00 and gave the company a “positive” rating in a report on Monday, April 8th. Piper Sandler upped their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Citigroup raised their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average price target of $42.63.

Helmerich & Payne Price Performance

Shares of HP opened at $40.41 on Thursday. The stock has a 50 day moving average of $40.75 and a 200-day moving average of $38.71. Helmerich & Payne has a 52 week low of $30.41 and a 52 week high of $46.55. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 2.03 and a beta of 1.51. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. The business had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.28%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 EPS. As a group, analysts forecast that Helmerich & Payne will post 3.59 EPS for the current year.

Hedge Funds Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its holdings in shares of Helmerich & Payne by 26.4% in the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after buying an additional 355 shares during the period. Greylin Investment Management Inc grew its position in Helmerich & Payne by 79.7% during the 1st quarter. Greylin Investment Management Inc now owns 28,346 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 12,569 shares in the last quarter. Verity & Verity LLC acquired a new stake in Helmerich & Payne during the 1st quarter valued at $252,000. Norden Group LLC purchased a new stake in shares of Helmerich & Payne in the first quarter valued at $291,000. Finally, Saxon Interests Inc. acquired a new stake in shares of Helmerich & Payne in the first quarter worth $205,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.