Piper Sandler Trims Helmerich & Payne (NYSE:HP) Target Price to $39.00

Helmerich & Payne (NYSE:HP) had its target price lowered by investment analysts at Piper Sandler from $44.00 to $39.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s price target points to a potential upside of 1.06% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Susquehanna decreased their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a report on Friday, April 26th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. The Goldman Sachs Group cut their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research report on Friday, January 12th. Finally, Barclays downgraded Helmerich & Payne from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Two research 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’s stock. According to data from MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and an average target price of $42.00.

Helmerich & Payne Trading Up 0.4 %

Shares of HP stock opened at $38.59 on Monday. Helmerich & Payne has a 1-year low of $30.41 and a 1-year high of $46.55. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.85 and a beta of 1.51. The stock has a 50-day moving average of $40.78 and a 200-day moving average of $38.45.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. During the same quarter in the previous year, the company earned $1.26 earnings per share. The business’s revenue was down 10.6% on a year-over-year basis. On average, equities research analysts forecast that Helmerich & Payne will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the completion of the sale, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Institutional Trading of Helmerich & Payne

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of Helmerich & Payne by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock valued at $187,668,000 after purchasing an additional 19,622 shares during the last quarter. Earnest Partners LLC increased its holdings in Helmerich & Payne by 4.0% during the third quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after buying an additional 113,735 shares during the last quarter. Pacer Advisors Inc. raised its position in Helmerich & Payne by 130.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after acquiring an additional 1,541,987 shares during the period. Victory Capital Management Inc. boosted its stake in Helmerich & Payne by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock valued at $95,211,000 after acquiring an additional 210,321 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of Helmerich & Payne by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock valued at $80,218,000 after acquiring an additional 34,863 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.