Several analysts have recently updated their ratings and price targets for Helmerich & Payne (NYSE: HP):

  • 9/15/2016 – Helmerich & Payne is now covered by analysts at DA Davidson. They set a “buy” rating and a $72.00 price target on the stock.
  • 9/15/2016 – Helmerich & Payne was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
  • 9/12/2016 – Helmerich & Payne had its price target lowered by analysts at Citigroup Inc. from $66.00 to $63.00. They now have a “neutral” rating on the stock.
  • 9/6/2016 – Helmerich & Payne was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $80.00 price target on the stock, up previously from $70.00. They wrote, “Data points from our conference suggest relative tightness in pockets of the high-spec rig market — notably Texas and Oklahoma — where HP has outsized share,” analyst Ole Slorer wrote in a note.”We see no reason to believe that HP will not share in these respective gains given its premium reputation and current ~25 percent share of working rigs in these regions,” Slorer continued.The analyst believes the company’s activity data and earnings momentum to be “meaningfully better” than the sector at large and sees near-term outperformance in shares.Related Link: Standpoint Research Shines A Light On 2 Solar StocksFurther, Slorer said the Street’s bearish stance on the stock on valuation is overdone as its net cash position and dividend support limits its bear case. That said, the analyst acknowledged that other names within the land drilling vertical could outperform HP longer-term due to higher financial leverage.”We believe HP is a relative EW within the sector — similar to RES, we believe it offers an ‘easy’ way to play the US land theme without taking meaningful balance sheet risk,”
  • 8/30/2016 – Helmerich & Payne had its “sell” rating reaffirmed by analysts at Jefferies Group.
  • 8/22/2016 – Helmerich & Payne had its “strong-buy” rating reaffirmed by analysts at Vetr.
  • 8/16/2016 – Helmerich & Payne was given a new $71.00 price target on by analysts at Nomura. They now have a “buy” rating on the stock.
  • 8/15/2016 – Helmerich & Payne had its “buy” rating reaffirmed by analysts at Argus. They now have a $72.00 price target on the stock.
  • 8/9/2016 – Helmerich & Payne had its price target lowered by analysts at Citigroup Inc. from $70.00 to $66.00. They now have a “neutral” rating on the stock.
  • 8/4/2016 – Helmerich & Payne had its “neutral” rating reaffirmed by analysts at Simmons. They now have a $50.00 price target on the stock, down previously from $54.00.
  • 8/1/2016 – Helmerich & Payne was given a new $52.00 price target on by analysts at Credit Suisse Group AG. They now have a “sell” rating on the stock.
  • 7/29/2016 – Helmerich & Payne had its price target lowered by analysts at FBR & Co from $66.00 to $58.00. They now have a “market perform” rating on the stock.
  • 7/29/2016 – Helmerich & Payne had its price target raised by analysts at Jefferies Group from $43.00 to $45.00. They now have an “underperform” rating on the stock.
  • 7/29/2016 – Helmerich & Payne had its “sell” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $39.00 price target on the stock.

Helmerich & Payne Inc. (NYSE:HP) opened at 59.02 on Thursday. The stock has a 50 day moving average of $61.45 and a 200-day moving average of $62.11. Helmerich & Payne Inc. has a 52-week low of $40.02 and a 52-week high of $70.28. The company’s market capitalization is $6.38 billion.

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Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. The business earned $366.50 million during the quarter, compared to analyst estimates of $298.71 million. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. Helmerich & Payne’s revenue was down 44.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, equities analysts forecast that Helmerich & Payne Inc. will post ($1.16) earnings per share for the current year.

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.

5 Day Chart for NYSE:HP

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