Helmerich & Payne (NYSE:HP) Given New $43.00 Price Target at Susquehanna

Helmerich & Payne (NYSE:HP) had its target price increased by research analysts at Susquehanna from $42.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price would suggest a potential upside of 16.71% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, March 20th. Citigroup boosted their price objective on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Finally, Piper Sandler lifted their price target on Helmerich & Payne from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.90.

Helmerich & Payne Trading Down 7.5%

Shares of NYSE:HP opened at $36.84 on Friday. The business’s 50 day moving average price is $35.92 and its 200-day moving average price is $31.99. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $41.68. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -9.72 and a beta of 0.62. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative return on equity of 1.14% and a negative net margin of 9.38%.Helmerich & Payne’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. On average, equities research analysts forecast that Helmerich & Payne will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the sale, the senior vice president directly owned 175,589 shares in the company, valued at $6,430,069.18. This represents a 25.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HP. Balyasny Asset Management L.P. grew its holdings in shares of Helmerich & Payne by 174.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock valued at $30,993,000 after purchasing an additional 1,298,510 shares during the period. Encompass Capital Advisors LLC raised its stake in Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after purchasing an additional 1,296,537 shares during the period. Ameriprise Financial Inc. boosted its holdings in Helmerich & Payne by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock valued at $26,907,000 after purchasing an additional 925,921 shares during the last quarter. Canoe Financial LP acquired a new position in Helmerich & Payne in the 1st quarter valued at about $33,130,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $23,120,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.