Helmerich & Payne (NYSE:HP)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Financial Group in a report issued on Tuesday, February 5th. They presently have a $64.00 target price on the oil and gas company’s stock. Jefferies Financial Group’s target price points to a potential upside of 16.47% from the stock’s current price. Jefferies Financial Group also issued estimates for Helmerich & Payne’s Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.48 EPS, FY2020 earnings at $2.75 EPS, FY2021 earnings at $4.20 EPS and FY2022 earnings at $4.90 EPS.
A number of other equities analysts have also commented on the company. Piper Jaffray Companies restated a “hold” rating and set a $62.00 price objective on shares of Helmerich & Payne in a research note on Tuesday, February 5th. Credit Suisse Group restated a “neutral” rating on shares of Helmerich & Payne in a research note on Thursday, January 31st. Bank of America upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $68.00 in a research note on Thursday, January 31st. Wells Fargo & Co reaffirmed a “buy” rating and issued a $68.00 target price (up previously from $61.00) on shares of Helmerich & Payne in a report on Wednesday, January 30th. Finally, Seaport Global Securities reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 30th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.11.
Shares of NYSE HP traded up $0.75 during trading hours on Tuesday, reaching $54.95. 1,203,567 shares of the stock were exchanged, compared to its average volume of 1,358,465. The firm has a market cap of $6.02 billion, a P/E ratio of 392.50 and a beta of 1.57. The company has a current ratio of 2.70, a quick ratio of 2.29 and a debt-to-equity ratio of 0.11. Helmerich & Payne has a 52 week low of $44.56 and a 52 week high of $74.36.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Tuesday, January 29th. The oil and gas company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.14. Helmerich & Payne had a return on equity of 1.18% and a net margin of 0.06%. The company had revenue of $740.60 million for the quarter, compared to analyst estimates of $716.12 million. Analysts forecast that Helmerich & Payne will post 1.58 EPS for the current year.
In other Helmerich & Payne news, VP Michael Lennox sold 6,912 shares of Helmerich & Payne stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total transaction of $415,272.96. Following the transaction, the vice president now directly owns 10,360 shares of the company’s stock, valued at approximately $622,428.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.17% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Investment Advisory Services LLC bought a new stake in Helmerich & Payne in the 4th quarter valued at about $31,000. CSat Investment Advisory L.P. increased its position in Helmerich & Payne by 41.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 679 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 199 shares in the last quarter. First Mercantile Trust Co. increased its position in Helmerich & Payne by 43.3% in the 4th quarter. First Mercantile Trust Co. now owns 960 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 290 shares in the last quarter. Enlightenment Research LLC bought a new stake in Helmerich & Payne in the 4th quarter valued at about $48,000. Finally, Captrust Financial Advisors increased its position in Helmerich & Payne by 639.2% in the 4th quarter. Captrust Financial Advisors now owns 1,264 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 1,093 shares in the last quarter. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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