Helmerich & Payne PT Raised to $129.00 (HP)
Research analysts at Global Hunter Securities lifted their target price on shares of Helmerich & Payne (NYSE:HP) from $90.00 to $129.00 in a report released on Wednesday. Global Hunter Securities’ price target would suggest a potential upside of 14.23% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs raised their price target on shares of Helmerich & Payne from $109.00 to $114.00 in a research note on Thursday, July 10th. They now have a “neutral” rating on the stock. Separately, analysts at Guggenheim upgraded shares of Helmerich & Payne from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 2nd. Finally, 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $104.67.
Shares of Helmerich & Payne (NYSE:HP) traded up 1.23% on Wednesday, hitting $114.315. 179,491 shares of the company’s stock traded hands. Helmerich & Payne has a one year low of $62.35 and a one year high of $118.95. The stock has a 50-day moving average of $113.2 and a 200-day moving average of $102.1. The company has a market cap of $12.362 billion and a P/E ratio of 15.93.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 24th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Helmerich & Payne will post $6.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders 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 2.44%. The ex-dividend date is Wednesday, August 13th. This is a boost 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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