Susquehanna Raises Helmerich & Payne (NYSE:HP) Price Target to $42.00

Helmerich & Payne (NYSE:HP) had its target price boosted by research analysts at Susquehanna from $40.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price suggests a potential upside of 18.66% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on HP. Barclays boosted their price target on Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Friday, March 27th. Citigroup lifted their price target on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Royal Bank Of Canada lifted their price target on shares of Helmerich & Payne from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.00.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $35.39 on Tuesday. The firm has a market cap of $3.53 billion, a PE ratio of -11.10 and a beta of 0.55. The firm’s 50-day simple moving average is $35.02 and its 200-day simple moving average is $30.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $37.87.

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

Insider Transactions at Helmerich & Payne

In related news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This represents a 25.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares during the period. Leonteq Securities AG acquired a new stake in Helmerich & Payne in the fourth quarter worth about $26,000. Rothschild Investment LLC lifted its holdings in 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 purchasing an additional 1,240 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 purchasing an additional 554 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in 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 in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

About Helmerich & Payne

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.