Helmerich & Payne (NYSE:HP) Stock Price Expected to Rise, Barclays Analyst Says

Helmerich & Payne (NYSE:HP) had its price objective increased by research analysts at Barclays from $50.00 to $51.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s target price indicates a potential upside of 32.00% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Bank of America reiterated a “buy” rating on shares of Helmerich & Payne in a research note on Monday. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Saturday. Susquehanna increased their price target on shares of Helmerich & Payne from $44.00 to $50.00 and gave the company a “positive” rating in a research report on Monday, October 5th. Morgan Stanley raised their price objective on shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, August 20th. Finally, Weiss Ratings raised shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average price target of $44.36.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded down $1.24 during mid-day trading on Monday, reaching $38.64. 499,878 shares of the company’s stock were exchanged, compared to its average volume of 1,364,313. The business’s fifty day simple moving average is $41.30 and its 200 day simple moving average is $38.01. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Helmerich & Payne has a one year low of $21.76 and a one year high of $48.17. The firm has a market capitalization of $3.86 billion, a PE ratio of -27.41, a P/E/G ratio of 1.13 and a beta of 0.69.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. On average, sell-side analysts expect that Helmerich & Payne will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Sara Momper sold 5,054 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the transaction, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at $750,900.24. This trade represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the sale, the director owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 110,673 shares of company stock valued at $4,864,590. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Helmerich & Payne during the first quarter worth approximately $101,000. Nykredit A S bought a new stake in shares of Helmerich & Payne in the 2nd quarter worth approximately $112,000. Avantax Planning Partners Inc. purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at $210,000. CacheTech Inc. purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at $213,000. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Helmerich & Payne in the 2nd quarter valued at $196,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and natural gas exploration and production companies. Founded in 1920 and headquartered in Tulsa, Oklahoma, the company operates and manages drilling rigs used to develop unconventional and conventional energy resources.

Its services include drilling-rig contracting, rig management, operational support, and technology solutions designed to improve drilling efficiency, safety, and well performance.