Helmerich & Payne Inc. (HP) Given a $70.00 Price Target at RBC Capital Markets
Helmerich & Payne Inc. (NYSE:HP) received a $70.00 price target from analysts at RBC Capital Markets in a research note issued on Friday. The firm presently has a a “buy” rating on the stock. RBC Capital Markets’ price target points to a potential upside of 2.07% from the company’s current price.
HP has been the topic of several other reports. Vetr reissued a “strong-buy” rating on shares of Helmerich & Payne in a research note on Monday, August 22nd. Jefferies Group reissued a “sell” rating on shares of Helmerich & Payne in a research note on Tuesday, August 30th. DA Davidson initiated coverage on Helmerich & Payne in a research report on Thursday, September 15th. They set a “buy” rating and a $72.00 target price on the stock. Argus lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $72.00 target price (up from $63.00) on shares of Helmerich & Payne in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.49.
Helmerich & Payne (NYSE:HP) traded down 0.81% during mid-day trading on Friday, hitting $68.58. 1,757,705 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $61.69 and a 200 day moving average of $62.24. Helmerich & Payne has a 52 week low of $40.02 and a 52 week high of $70.28. The stock’s market capitalization is $7.41 billion.
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Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The company earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The business’s revenue was down 44.6% on a year-over-year basis. Equities analysts forecast that Helmerich & Payne will post ($1.16) earnings per share for the current fiscal year.
In related news, CEO John W. Lindsay sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $67.45, for a total transaction of $1,011,750.00. Following the transaction, the chief executive officer now directly owns 141,512 shares of the company’s stock, valued at approximately $9,544,984.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John R. Bell sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $66.35, for a total value of $597,150.00. Following the transaction, the insider now directly owns 45,666 shares in the company, valued at $3,029,939.10. The disclosure for this sale can be found here. Corporate insiders own 4.23% of the company’s stock.
A number of institutional investors have recently bought and sold shares of HP. Aperio Group LLC raised its position in Helmerich & Payne by 8.3% in the first quarter. Aperio Group LLC now owns 73,447 shares of the company’s stock valued at $4,313,000 after buying an additional 5,604 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Helmerich & Payne by 16.4% in the first quarter. TIAA CREF Investment Management LLC now owns 483,398 shares of the company’s stock valued at $28,385,000 after buying an additional 68,000 shares during the last quarter. Teachers Advisors Inc. raised its position in Helmerich & Payne by 62.2% in the first quarter. Teachers Advisors Inc. now owns 154,824 shares of the company’s stock valued at $9,091,000 after buying an additional 59,352 shares during the last quarter. Prudential Financial Inc. raised its position in Helmerich & Payne by 22.6% in the first quarter. Prudential Financial Inc. now owns 162,817 shares of the company’s stock valued at $9,561,000 after buying an additional 30,060 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Helmerich & Payne by 197.9% in the first quarter. Franklin Resources Inc. now owns 95,657 shares of the company’s stock valued at $5,617,000 after buying an additional 63,550 shares during the last quarter.
About Helmerich & Payne
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.
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