Helmerich & Payne Inc. (NYSE:HP) has been given a $70.00 price objective by equities research analysts at RBC Capital Markets in a research report issued on Friday. The firm presently has a a “buy” rating on the stock. RBC Capital Markets’ price objective suggests a potential upside of 1.24% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Bank of America Corp. initiated coverage on shares of Helmerich & Payne in a research report on Monday, June 13th. They set a “buy” rating on the stock. Argus reaffirmed a “buy” rating and set a $72.00 price target on shares of Helmerich & Payne in a research report on Monday, August 15th. Nomura set a $71.00 price target on shares of Helmerich & Payne and gave the stock a “buy” rating in a research report on Tuesday, August 16th. DA Davidson initiated coverage on shares of Helmerich & Payne in a research report on Thursday, September 15th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Morgan Stanley raised shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $70.00 to $80.00 in a research report on Tuesday, September 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $61.49.
Helmerich & Payne (NYSE:HP) traded down 0.52% during trading on Friday, reaching $68.78. The company’s stock had a trading volume of 1,341,302 shares. Helmerich & Payne has a 52 week low of $40.02 and a 52 week high of $70.28. The firm has a 50 day moving average of $61.69 and a 200 day moving average of $62.24. The stock’s market capitalization is $7.43 billion.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.41) by $0.06. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. The company had revenue of $366.50 million for the quarter, compared to the consensus estimate of $298.71 million. During the same period in the previous year, the business posted $0.27 EPS. The business’s revenue for the quarter was down 44.6% on a year-over-year basis. Analysts expect that Helmerich & Payne will post ($1.16) EPS for the current year.
In other news, insider John R. Bell sold 9,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $66.35, for a total transaction of $597,150.00. Following the transaction, the insider now owns 45,666 shares in the company, valued at approximately $3,029,939.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay sold 15,000 shares of Helmerich & Payne stock in a transaction on Friday, September 30th. The stock was sold at an average price of $67.45, for a total transaction of $1,011,750.00. Following the completion of the transaction, the chief executive officer now owns 141,512 shares in the company, valued at approximately $9,544,984.40. The disclosure for this sale can be found here. Insiders own 4.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ING Groep NV purchased a new position in shares of Helmerich & Payne during the first quarter valued at approximately $396,000. Picton Mahoney Asset Management purchased a new position in shares of Helmerich & Payne during the first quarter valued at approximately $2,707,000. M&T Bank Corp increased its position in shares of Helmerich & Payne by 49.4% in the first quarter. M&T Bank Corp now owns 377,736 shares of the company’s stock valued at $22,181,000 after buying an additional 124,901 shares during the period. JPMorgan Chase & Co. increased its position in shares of Helmerich & Payne by 78.1% in the first quarter. JPMorgan Chase & Co. now owns 432,013 shares of the company’s stock valued at $25,368,000 after buying an additional 189,475 shares during the period. Finally, BlackRock Japan Co. Ltd increased its position in shares of Helmerich & Payne by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 146,082 shares of the company’s stock valued at $8,578,000 after buying an additional 1,588 shares during the period.
Helmerich & Payne Company Profile
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.
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