Helmerich & Payne (HP) PT Set at $66.00 by Cowen

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Helmerich & Payne (NYSE:HP) has been given a $66.00 price target by analysts at Cowen in a research note issued on Sunday. The firm currently has a “hold” rating on the oil and gas company’s stock. Cowen’s target price indicates a potential upside of 2.55% from the company’s previous close.

Several other research firms have also recently issued reports on HP. SunTrust Banks raised shares of Helmerich & Payne from a “sell” rating to a “buy” rating and raised their price target for the stock from $58.00 to $75.00 in a research note on Monday. Zacks Investment Research raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, October 9th. B. Riley set a $83.00 price target on shares of Helmerich & Payne and gave the stock a “buy” rating in a research note on Sunday, October 7th. Wolfe Research started coverage on shares of Helmerich & Payne in a research note on Wednesday, October 10th. They set an “underperform” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of Helmerich & Payne from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $49.00 to $58.00 in a research note on Friday, September 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $73.76.

Shares of NYSE HP opened at $64.36 on Friday. The stock has a market capitalization of $6.82 billion, a P/E ratio of 459.71 and a beta of 1.30. Helmerich & Payne has a 52 week low of $54.00 and a 52 week high of $75.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.57 and a current ratio of 2.96.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Helmerich & Payne had a net margin of 19.41% and a return on equity of 0.41%. The company had revenue of $696.83 million for the quarter, compared to analysts’ expectations of $683.89 million. As a group, equities research analysts expect that Helmerich & Payne will post 1.51 earnings per share for the current year.

In related news, CEO John W. Lindsay sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Chapman Paula Marshall sold 11,309 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $65.13, for a total transaction of $736,555.17. Following the completion of the transaction, the director now owns 14,874 shares in the company, valued at approximately $968,743.62. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. raised its holdings in Helmerich & Payne by 6.9% in the second quarter. OppenheimerFunds Inc. now owns 48,924 shares of the oil and gas company’s stock valued at $3,119,000 after buying an additional 3,161 shares during the period. PVG Asset Management Corp purchased a new position in Helmerich & Payne in the second quarter valued at approximately $947,000. Toronto Dominion Bank raised its holdings in Helmerich & Payne by 19.3% in the second quarter. Toronto Dominion Bank now owns 69,994 shares of the oil and gas company’s stock valued at $4,461,000 after buying an additional 11,326 shares during the period. BTIM Corp. raised its holdings in Helmerich & Payne by 3.5% in the third quarter. BTIM Corp. now owns 200,462 shares of the oil and gas company’s stock valued at $13,786,000 after buying an additional 6,711 shares during the period. Finally, GWM Advisors LLC raised its holdings in Helmerich & Payne by 23.0% in the third quarter. GWM Advisors LLC now owns 6,374 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 1,191 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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