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

Helmerich & Payne (NYSE:HP) had its price target increased by analysts at TD Cowen from $35.00 to $38.00 in a research report issued on Monday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective indicates a potential upside of 10.82% from the stock’s previous close.

Several other analysts also recently commented on the stock. Evercore raised their price objective on shares of Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, November 19th. Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Helmerich & Payne in a research note on Friday. Barclays raised their price target on Helmerich & Payne from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Finally, Morgan Stanley reissued an “underweight” rating and set a $28.00 target price on shares of Helmerich & Payne in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.91.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $34.29 on Monday. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average price of $31.08 and a 200-day moving average price of $25.42. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $36.73. The firm has a market capitalization of $3.42 billion, a PE ratio of -10.75 and a beta of 0.57.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The firm’s revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. As a group, equities research analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current year.

Insider Transactions at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of Helmerich & Payne stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in Helmerich & Payne by 2,433.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Helmerich & Payne in the 4th quarter valued at $26,000. Rothschild Investment LLC increased its stake in shares of Helmerich & Payne by 1,377.8% in the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,240 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Helmerich & Payne by 46.5% during 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 purchasing an additional 554 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Helmerich & Payne by 184.3% during the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,187 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.