Helmerich & Payne (NYSE:HP) Stock Price Expected to Rise, Citigroup Analyst Says

Helmerich & Payne (NYSE:HP) had its price objective raised by analysts at Citigroup from $29.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price target suggests a potential upside of 7.11% from the company’s previous close.

A number of other equities analysts have also weighed in on HP. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday. Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Piper Sandler upped their price target on Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Evercore ISI increased their price objective on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $24.00 to $34.00 in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.80.

Helmerich & Payne Price Performance

Helmerich & Payne stock traded up $0.37 during midday trading on Thursday, hitting $30.81. The company’s stock had a trading volume of 1,219,976 shares, compared to its average volume of 1,881,480. Helmerich & Payne has a 12 month low of $14.65 and a 12 month high of $37.30. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.03 billion, a PE ratio of -18.45 and a beta of 0.56. The stock’s 50-day moving average price is $26.12 and its 200-day moving average price is $20.83.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). The business had revenue of $1.01 billion for 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%. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. Analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HP. CIBC Bancorp USA Inc. bought a new stake in shares of Helmerich & Payne in the 3rd quarter valued at approximately $228,000. Tcfg Wealth Management LLC grew its holdings in shares of Helmerich & Payne by 85.9% in the 3rd quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock worth $2,075,000 after purchasing an additional 43,412 shares during the last quarter. Tweedy Browne Co LLC lifted its holdings in Helmerich & Payne by 105.7% during the 3rd quarter. Tweedy Browne Co LLC now owns 26,389 shares of the oil and gas company’s stock valued at $583,000 after purchasing an additional 13,563 shares during the last quarter. Advisory Services Network LLC bought a new position in Helmerich & Payne during the 3rd quarter valued at about $118,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Helmerich & Payne by 3.1% in the third quarter. CANADA LIFE ASSURANCE Co now owns 157,037 shares of the oil and gas company’s stock valued at $3,501,000 after acquiring an additional 4,662 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

About Helmerich & Payne

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.