Citigroup Forecasts Strong Price Appreciation for Helmerich & Payne (NYSE:HP) Stock

Helmerich & Payne (NYSE:HP) had its target price hoisted by stock analysts at Citigroup from $29.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s target price would indicate a potential upside of 12.26% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. The Goldman Sachs Group raised Helmerich & Payne from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $28.00 in a research note on Thursday, November 20th. Cowen reissued a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday, November 26th. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $34.00 in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.80.

Helmerich & Payne Price Performance

NYSE:HP opened at $29.40 on Thursday. The stock has a market capitalization of $2.89 billion, a PE ratio of -17.60 and a beta of 0.56. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $37.30. The firm has a fifty day simple moving average of $26.41 and a 200 day simple moving average of $21.00. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.27). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $972.79 million. Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. Helmerich & Payne’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, research analysts expect that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Institutional Trading of Helmerich & Payne

Several hedge funds have recently added to or reduced their stakes in HP. New York State Teachers Retirement System lifted its holdings in Helmerich & Payne by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock worth $2,203,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Helmerich & Payne by 1.4% during the third quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock valued at $650,000 after acquiring an additional 416 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Helmerich & Payne by 21.3% during the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 437 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Helmerich & Payne by 1.7% in the third quarter. Amalgamated Bank now owns 28,813 shares of the oil and gas company’s stock worth $636,000 after acquiring an additional 475 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Helmerich & Payne by 46.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.