Barclays Lowers Helmerich & Payne (NYSE:HP) Price Target to $20.00

Helmerich & Payne (NYSE:HP) had its target price decreased by analysts at Barclays from $24.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target would suggest a potential upside of 10.25% from the stock’s previous close.

HP has been the subject of a number of other research reports. Evercore ISI reissued an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Susquehanna dropped their price target on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Morgan Stanley restated an “underweight” rating and issued a $27.00 price target on shares of Helmerich & Payne in a research report on Thursday, March 27th. StockNews.com lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. Finally, Argus upgraded Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $30.10.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $18.14 on Wednesday. The business has a 50 day simple moving average of $21.68 and a two-hundred day simple moving average of $28.45. Helmerich & Payne has a 12 month low of $17.49 and a 12 month high of $42.60. The stock has a market capitalization of $1.80 billion, a P/E ratio of 5.97, a PEG ratio of 3.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52.

Helmerich & Payne (NYSE:HP) last announced its 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). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $961.03 million. During the same period in the previous year, the company earned $0.84 EPS. Helmerich & Payne’s revenue was up 47.7% compared to the same quarter last year. As a group, analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in Helmerich & Payne in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc lifted its stake in Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 867 shares in the last quarter. Covestor Ltd lifted its stake in Helmerich & Payne by 61.3% during the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 907 shares in the last quarter. Steph & Co. acquired a new position in Helmerich & Payne during the fourth quarter worth $87,000. Finally, Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 1,268 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.