FBR Capital Markets Increases Helmerich & Payne Price Target to $107.00 (HP)
Equities research analysts at FBR Capital Markets boosted their price objective on shares of Helmerich & Payne (NYSE:HP) from $98.00 to $107.00 in a research note issued to investors on Tuesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective would indicate a potential upside of 11.00% from the stock’s previous close.
In other Helmerich & Payne news, COO John Lindsay unloaded 5,573 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $94.33, for a total transaction of $525,701.09. Following the sale, the chief operating officer now directly owns 94,920 shares of the company’s stock, valued at approximately $8,953,804. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Helmerich & Payne (NYSE:HP) traded up 0.82% during mid-day trading on Tuesday, hitting $97.19. 1,236,841 shares of the company’s stock traded hands. Helmerich & Payne has a 1-year low of $55.78 and a 1-year high of $97.52. The stock has a 50-day moving average of $87.82 and a 200-day moving average of $77.49. The company has a market cap of $10.451 billion and a price-to-earnings ratio of 13.98.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, January 30th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.46 by $0.13. The company had revenue of $889.20 million for the quarter, compared to the consensus estimate of $866.70 million. Analysts expect that Helmerich & Payne will post $6.12 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse downgraded shares of Helmerich & Payne from a “neutral” rating to an “underperform” rating in a research note on Tuesday, February 4th. They now have a $75.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Helmerich & Payne from $80.00 to $98.00 in a research note on Monday, February 3rd. Finally, analysts at Cowen and Company raised their price target on shares of Helmerich & Payne from $86.00 to $90.00 in a research note on Friday, January 31st. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $87.24.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.
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