Jefferies Group Analysts Give Helmerich & Payne (HP) a $65.00 Price Target

Helmerich & Payne (NYSE:HP) has been given a $65.00 price target by equities research analysts at Jefferies Group in a report issued on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Jefferies Group’s target price suggests a potential downside of 2.11% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Citigroup raised shares of Helmerich & Payne from a “sell” rating to a “neutral” rating in a report on Thursday. Royal Bank of Canada set a $68.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Thursday, December 21st. Tudor Pickering raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. SunTrust Banks increased their target price on shares of Helmerich & Payne to $50.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Monday, December 4th. Seven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $55.67.

Shares of Helmerich & Payne (NYSE HP) traded up $0.75 during trading on Thursday, reaching $66.40. 2,211,551 shares of the company’s stock were exchanged, compared to its average volume of 1,450,000. Helmerich & Payne has a 12 month low of $42.16 and a 12 month high of $81.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59. The stock has a market capitalization of $7,210.00, a PE ratio of -55.80 and a beta of 1.30.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $532.30 million during the quarter, compared to analysts’ expectations of $493.78 million. During the same period last year, the company posted ($0.33) earnings per share. The firm’s quarterly revenue was up 60.5% compared to the same quarter last year. research analysts predict that Helmerich & Payne will post -0.43 earnings per share for the current fiscal year.

In related news, Director Chapman Paula Marshall sold 2,555 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $57.80, for a total transaction of $147,679.00. Following the sale, the director now owns 12,525 shares in the company, valued at $723,945. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HP. Ffcm LLC boosted its position in Helmerich & Payne by 409.2% during the second quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 2,308 shares during the last quarter. Sandy Spring Bank boosted its position in Helmerich & Payne by 36.7% during the third quarter. Sandy Spring Bank now owns 3,540 shares of the oil and gas company’s stock worth $184,000 after acquiring an additional 950 shares during the last quarter. Sapphire Star Partners LP acquired a new stake in Helmerich & Payne during the third quarter worth approximately $202,000. Private Advisor Group LLC acquired a new stake in Helmerich & Payne during the third quarter worth approximately $206,000. Finally, Meridian Wealth Management LLC acquired a new stake in Helmerich & Payne during the third quarter worth approximately $217,000.

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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.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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