SunTrust Banks Increases Helmerich & Payne (HP) Price Target to $50.00
Helmerich & Payne (NYSE:HP) had its price objective hoisted by analysts at SunTrust Banks to $50.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. SunTrust Banks’ price objective points to a potential downside of 13.55% from the stock’s previous close.
HP has been the subject of a number of other research reports. Deutsche Bank initiated coverage on Helmerich & Payne in a report on Tuesday, October 10th. They issued a “hold” rating and a $45.00 target price for the company. Royal Bank Of Canada set a $57.00 target price on Helmerich & Payne and gave the company a “sector perform” rating in a report on Friday, November 17th. Cowen set a $50.00 target price on Helmerich & Payne and gave the company a “hold” rating in a report on Wednesday, October 18th. Jefferies Group set a $58.00 target price on Helmerich & Payne and gave the company a “hold” rating in a report on Saturday, November 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $66.00 target price on shares of Helmerich & Payne in a report on Wednesday, September 6th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.92.
Helmerich & Payne (NYSE HP) traded down $0.59 during trading hours on Wednesday, reaching $57.84. 1,170,800 shares of the company were exchanged, compared to its average volume of 1,844,464. Helmerich & Payne has a 1 year low of $42.16 and a 1 year high of $85.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59.
In other news, CEO John W. Lindsay bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $47.73 per share, with a total value of $238,650.00. Following the purchase, the chief executive officer now owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.23% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Capital International Investors grew its holdings in Helmerich & Payne by 37.2% in the 3rd quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock valued at $418,279,000 after buying an additional 2,177,139 shares during the period. Brandywine Global Investment Management LLC grew its holdings in shares of Helmerich & Payne by 2,253.8% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock worth $116,720,000 after purchasing an additional 2,056,689 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Helmerich & Payne by 68.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after purchasing an additional 1,590,793 shares during the period. Kiltearn Partners LLP grew its holdings in shares of Helmerich & Payne by 165.0% during the 2nd quarter. Kiltearn Partners LLP now owns 2,289,302 shares of the oil and gas company’s stock worth $124,401,000 after purchasing an additional 1,425,513 shares during the period. Finally, Prudential PLC grew its holdings in shares of Helmerich & Payne by 64.8% during the 2nd quarter. Prudential PLC now owns 2,487,853 shares of the oil and gas company’s stock worth $135,190,000 after purchasing an additional 977,825 shares during the period.
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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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