Helmerich & Payne (NYSE:HP) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Helmerich & Payne (NYSE:HP) had its price objective increased by analysts at Royal Bank Of Canada from $34.00 to $36.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas company’s stock.

HP has been the subject of a number of other reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Wall Street Zen cut Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $34.00 in a research note on Wednesday, December 10th. TD Cowen restated a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 7th. Finally, Evercore upped their target price on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $33.91.

Helmerich & Payne Stock Up 4.3%

Shares of NYSE:HP opened at $36.00 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57. The company has a 50 day moving average of $30.82 and a two-hundred day moving average of $25.11. Helmerich & Payne has a 52-week low of $14.65 and a 52-week high of $36.73. The company has a quick ratio of 1.40, a current ratio of 2.03 and a debt-to-equity ratio of 0.75.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. Helmerich & Payne’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. As a group, analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the transaction, the director directly owned 496,735 shares in the company, valued at $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Helmerich & Payne

Institutional investors and hedge funds have recently modified their holdings of the business. Grace & White Inc. NY lifted its stake in Helmerich & Payne by 23.3% in the second quarter. Grace & White Inc. NY now owns 139,742 shares of the oil and gas company’s stock valued at $2,118,000 after buying an additional 26,400 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Helmerich & Payne by 398.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock worth $1,040,000 after acquiring an additional 37,626 shares during the last quarter. Alpha Wealth Funds LLC acquired a new stake in shares of Helmerich & Payne in the 2nd quarter worth about $180,000. Jefferies Financial Group Inc. bought a new stake in Helmerich & Payne in the 2nd quarter valued at about $174,000. Finally, Advisors Asset Management Inc. bought a new stake in Helmerich & Payne in the 2nd quarter valued at about $1,107,000. 96.05% of the stock is owned by institutional investors and hedge funds.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.