Helmerich & Payne (NYSE:HP) Given New $38.00 Price Target at TD Cowen

Helmerich & Payne (NYSE:HP) had its target price increased by equities research analysts at TD Cowen from $35.00 to $38.00 in a report released on Monday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s target price would indicate a potential upside of 5.56% from the company’s current price.

Other research analysts have also issued reports about the company. Royal Bank Of Canada increased their price objective on Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Piper Sandler raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $35.00 in a research report on Thursday, December 18th. Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Finally, Evercore ISI set a $37.00 target price on shares of Helmerich & Payne in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $34.18.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $36.00 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $30.82 and a 200 day moving average price of $25.17. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $36.73. The stock has a market cap of $3.59 billion, a P/E ratio of -11.29 and a beta of 0.57.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Sell-side analysts anticipate 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 the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the sale, the director owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Large investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new stake in Helmerich & Payne during the 4th quarter worth approximately $26,000. Rothschild Investment LLC increased its position in shares of Helmerich & Payne by 1,377.8% during 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. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 1,582 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Helmerich & Payne by 46.5% during the 3rd 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 position in Helmerich & Payne by 184.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,187 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.