Royal Bank Of Canada Boosts Helmerich & Payne (NYSE:HP) Price Target to $36.00

Helmerich & Payne (NYSE:HP) had its price target upped by equities researchers at Royal Bank Of Canada from $34.00 to $36.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 0.21% from the stock’s previous close.

Several other research analysts also recently commented on HP. TD Cowen reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday, January 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Finally, Evercore ISI upped their price objective on shares of Helmerich & Payne from $20.00 to $27.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 19th. Three 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’s stock. According to MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $33.60.

Helmerich & Payne Trading Up 4.0%

NYSE:HP traded up $1.40 during mid-day trading on Friday, hitting $35.93. 707,716 shares of the stock traded hands, compared to its average volume of 1,794,629. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $36.73. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57. The firm’s 50 day moving average is $30.66 and its two-hundred day moving average is $24.90.

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

Insider Activity at Helmerich & Payne

In other 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 value of $2,109,000.00. Following the completion of the sale, the director owned 496,735 shares of the company’s stock, valued at $13,968,188.20. This trade represents a 13.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in HP. Leonteq Securities AG purchased a new position in Helmerich & Payne in the 4th quarter worth $26,000. Rothschild Investment LLC increased its holdings in shares of Helmerich & Payne by 1,377.8% in the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,240 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Helmerich & Payne by 46.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 554 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Helmerich & Payne by 184.3% during the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,187 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

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.