Susquehanna Lowers Helmerich & Payne (NYSE:HP) Price Target to $28.00

Helmerich & Payne (NYSE:HP) had its price target decreased by research analysts at Susquehanna from $43.00 to $28.00 in a report released on Monday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 44.93% from the company’s current price.

HP has been the subject of several other reports. Evercore ISI restated 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. Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays decreased their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley reissued an “underweight” rating and issued a $27.00 price objective on shares of Helmerich & Payne in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group reduced their target price on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.78.

Helmerich & Payne Trading Up 0.6 %

Shares of HP traded up $0.11 during mid-day trading on Monday, hitting $19.32. The company had a trading volume of 519,599 shares, compared to its average volume of 1,502,788. Helmerich & Payne has a 1-year low of $17.82 and a 1-year high of $42.68. 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 business’s 50-day simple moving average is $25.13 and its 200-day simple moving average is $30.81. The stock has a market cap of $1.92 billion, a PE ratio of 6.36, 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John W. Lindsay purchased 20,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average price 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares of the company’s stock, 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 owned by corporate insiders.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of HP. Kestra Investment Management LLC acquired a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc raised 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 worth $44,000 after buying an additional 867 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 907 shares during the period. Steph & Co. bought a new position in Helmerich & Payne during the fourth quarter valued at about $87,000. Finally, Smartleaf Asset Management LLC grew its holdings in Helmerich & Payne by 82.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 1,268 shares during the period. 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.