Susquehanna Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its target price dropped by analysts at Susquehanna from $43.00 to $40.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective suggests a potential upside of 25.44% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Citigroup cut their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Royal Bank Of Canada increased their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th. Barclays upped their price target on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Morgan Stanley raised their price objective on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.10.

Helmerich & Payne Price Performance

HP stock opened at $31.89 on Wednesday. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -8.41 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. The company has a 50 day simple moving average of $37.39 and a 200 day simple moving average of $34.93. Helmerich & Payne has a 1 year low of $15.17 and a 1 year high of $41.82.

Helmerich & Payne (NYSE:HP) last posted its 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). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Helmerich & Payne’s revenue for the quarter was down 8.2% compared to the same quarter last year. Research analysts anticipate that Helmerich & Payne will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently modified their holdings of HP. EverSource Wealth Advisors LLC lifted its holdings in shares of Helmerich & Payne by 2,433.8% in the 2nd 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 in the last quarter. Leonteq Securities AG bought a new stake in Helmerich & Payne during the 4th quarter valued at $26,000. Parallel Advisors LLC raised its holdings in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after buying an additional 445 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Helmerich & Payne in the first quarter valued at $101,000. Institutional investors own 96.05% of the company’s stock.

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.