Helmerich & Payne Upgraded to “Accumulate” at Global Hunter Securities (HP)
Helmerich & Payne (NYSE:HP) was upgraded by analysts at Global Hunter Securities from a “neutral” rating to an “accumulate” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $115.00 price objective on the stock, down from their previous price objective of $129.00. Global Hunter Securities’ price objective indicates a potential upside of 12.04% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Helmerich & Payne from $112.00 to $115.00 in a research note on Friday, August 1st. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Friday, August 1st. They now have a $115.00 price target on the stock, up previously from $105.00. Finally, analysts at BMO Capital Markets downgraded shares of Helmerich & Payne from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $102.93.
Shares of Helmerich & Payne (NYSE:HP) opened at 102.91 on Tuesday. Helmerich & Payne has a 52-week low of $62.39 and a 52-week high of $118.95. The stock’s 50-day moving average is $112.8 and its 200-day moving average is $105.3. The company has a market cap of $11.138 billion and a price-to-earnings ratio of 16.07.
Helmerich & Payne (NYSE:HP) last released its earnings data on Thursday, July 31st. The company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.12. The company had revenue of $952.10 million for the quarter, compared to the consensus estimate of $942.13 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Helmerich & Payne will post $6.29 EPS for the current fiscal year.
Helmerich & Payne, Inc is engaged in contract drilling of oil and gases wells for others and this business.
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