Helmerich & Payne (HP) Price Target Raised to $60.00

Helmerich & Payne (NYSE:HP) had its price objective hoisted by Morgan Stanley from $56.00 to $60.00 in a report issued on Wednesday. The firm currently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 17.25% from the company’s current price.

HP has been the topic of a number of other research reports. Jefferies Group set a $65.00 price objective on shares of Helmerich & Payne and gave the stock a “hold” rating in a research report on Thursday, January 4th. Royal Bank of Canada set a $68.00 target price on shares of Helmerich & Payne and gave the stock a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Monday, March 12th. Tudor Pickering upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Finally, UBS upgraded shares of Helmerich & Payne from a “neutral” rating to a “positive” rating in a report on Friday, March 9th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the stock. Helmerich & Payne has an average rating of “Hold” and an average price target of $57.20.

Shares of HP stock opened at $72.51 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.28 and a debt-to-equity ratio of 0.11. Helmerich & Payne has a 12 month low of $42.16 and a 12 month high of $75.02.



Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.14. The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $547.64 million. Helmerich & Payne had a net margin of 20.30% and a negative return on equity of 1.90%. The firm’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) earnings per share.

In other Helmerich & Payne news, CFO Juan Pablo Tardio sold 10,880 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $65.90, for a total value of $716,992.00. Following the transaction, the chief financial officer now directly owns 16,628 shares in the company, valued at $1,095,785.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Chapman Paula Marshall sold 4,122 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $71.40, for a total transaction of $294,310.80. Following the completion of the transaction, the director now owns 16,647 shares in the company, valued at $1,188,595.80. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its position in shares of Helmerich & Payne by 23.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,267 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 1,016 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of Helmerich & Payne by 20.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 11,303 shares of the oil and gas company’s stock valued at $731,000 after acquiring an additional 1,890 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Helmerich & Payne by 97.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,526 shares of the oil and gas company’s stock valued at $551,000 after acquiring an additional 4,200 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Helmerich & Payne by 51.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,827 shares of the oil and gas company’s stock valued at $2,251,000 after acquiring an additional 11,899 shares during the period. Finally, OLD Republic International Corp boosted its position in shares of Helmerich & Payne by 15.2% in the fourth quarter. OLD Republic International Corp now owns 653,500 shares of the oil and gas company’s stock valued at $42,242,000 after acquiring an additional 86,000 shares during the period.

COPYRIGHT VIOLATION NOTICE: “Helmerich & Payne (HP) Price Target Raised to $60.00” was originally reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://dakotafinancialnews.com/2018/04/13/helmerich-payne-hp-price-target-raised-to-60-00.html.

About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

Receive News & Ratings for Helmerich & Payne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply