Sanford C. Bernstein Reiterates “Outperform” Rating for Helmerich & Payne, Inc. (HP)
Helmerich & Payne, Inc. (NYSE:HP)‘s stock had its “outperform” rating restated by equities researchers at Sanford C. Bernstein in a report released on Wednesday. They presently have a $66.00 target price on the oil and gas company’s stock. Sanford C. Bernstein’s target price points to a potential upside of 45.12% from the stock’s current price.
Other analysts have also issued reports about the stock. BMO Capital Markets restated a “sell” rating and issued a $54.00 price objective on shares of Helmerich & Payne in a report on Thursday, June 22nd. UBS AG restated a “buy” rating and issued a $60.00 price objective (down from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) lowered shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $63.00 to $45.00 in a report on Monday, May 22nd. Royal Bank Of Canada restated a “hold” rating and issued a $65.00 price objective on shares of Helmerich & Payne in a report on Thursday, July 20th. Finally, Jefferies Group LLC set a $54.00 price objective on shares of Helmerich & Payne and gave the stock a “hold” rating in a report on Tuesday, June 6th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.00.
Helmerich & Payne (NYSE HP) traded down 1.22% on Wednesday, hitting $45.48. The stock had a trading volume of 1,277,617 shares. The company’s market cap is $4.94 billion. Helmerich & Payne has a 52-week low of $42.16 and a 52-week high of $85.78. The stock’s 50-day moving average is $46.98 and its 200-day moving average is $57.21.
Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. The company had revenue of $498.60 million during the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. Helmerich & Payne’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.20) earnings per share. Analysts expect that Helmerich & Payne will post ($1.32) earnings per share for the current year.
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Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in Helmerich & Payne in the first quarter worth approximately $172,000. Ffcm LLC boosted its holdings in Helmerich & Payne by 409.2% in the second quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 2,308 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Helmerich & Payne in the first quarter worth approximately $209,000. AlphaMark Advisors LLC boosted its holdings in Helmerich & Payne by 3.1% in the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 101 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in Helmerich & Payne in the first quarter worth approximately $236,000.
Helmerich & Payne Company Profile
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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