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.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. Helmerich & Payne had a negative net margin of 7.16% and a negative return on equity of 2.96%. The firm had revenue of $532.30 million for the quarter, compared to analyst estimates of $493.78 million. During the same period last year, the firm posted ($0.33) EPS. Helmerich & Payne’s quarterly revenue was up 60.5% on a year-over-year basis. analysts forecast that Helmerich & Payne will post -0.47 earnings per share for the current fiscal year.

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.

The Fly

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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