Helmerich & Payne Price Target Increased to $114.00 by Analysts at Goldman Sachs (HP)
Research analysts at Goldman Sachs upped their target price on shares of Helmerich & Payne (NYSE:HP) from $109.00 to $114.00 in a report released on Thursday. The firm currently has a “neutral” rating on the stock. Goldman Sachs’ target price would indicate a potential downside of 0.53% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Guggenheim upgraded shares of Helmerich & Payne from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 2nd. Separately, analysts at FBR Capital Markets downgraded shares of Helmerich & Payne from an “outperform” rating to a “market perform” rating in a research note on Monday, June 23rd. They now have a $120.00 price target on the stock, up previously from $110.00. They noted that the move was a valuation call. Finally, analysts at Howard Weil raised their price target on shares of Helmerich & Payne from $112.00 to $118.00 in a research note on Thursday, June 5th. They now have a “sector perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $101.27.
In other Helmerich & Payne news, VP Gordon K. Helm unloaded 3,137 shares of the stock on the open market in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $115.29, for a total value of $361,664.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Helmerich & Payne (NYSE:HP) traded down 0.98% on Thursday, hitting $114.61. The stock had a trading volume of 949,562 shares. Helmerich & Payne has a 1-year low of $62.35 and a 1-year high of $118.95. The stock has a 50-day moving average of $112.8 and a 200-day moving average of $101.3. The company has a market cap of $12.394 billion and a P/E ratio of 16.33.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.48 by $0.11. The company had revenue of $893.40 million for the quarter, compared to the consensus estimate of $888.35 million. During the same quarter last year, the company posted $1.39 earnings per share. Helmerich & Payne’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Helmerich & Payne will post $6.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.6875 per share. This represents a $2.75 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, August 13th. This is an increase from Helmerich & Payne’s previous quarterly dividend of $0.63.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.
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