Helmerich & Payne (HP) PT Set at $65.00 by Jefferies Group

Helmerich & Payne (NYSE:HP) has been assigned a $65.00 price target by investment analysts at Jefferies Group in a note issued to investors on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Jefferies Group’s target price indicates a potential downside of 2.55% from the stock’s current price. Jefferies Group also issued estimates for Helmerich & Payne’s Q4 2018 earnings at $0.04 EPS.

A number of other equities research analysts have also issued reports on HP. B. Riley restated a “neutral” rating on shares of Helmerich & Payne in a report on Wednesday, November 1st. Citigroup upgraded shares of Helmerich & Payne from a “sell” rating to a “neutral” rating in a report on Thursday. SunTrust Banks restated a “sell” rating and set a $37.00 price target (down previously from $66.00) on shares of Helmerich & Payne in a report on Tuesday, October 3rd. Cowen set a $50.00 price target on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada restated a “hold” rating and set a $53.00 price target on shares of Helmerich & Payne in a report on Wednesday, October 18th. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.67.

Shares of Helmerich & Payne (NYSE:HP) opened at $66.70 on Thursday. The company has a quick ratio of 3.19, a current ratio of 3.59 and a debt-to-equity ratio of 0.12. Helmerich & Payne has a fifty-two week low of $42.16 and a fifty-two week high of $81.30. The company has a market cap of $7,240.00, a P/E ratio of -56.05 and a beta of 1.30.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Helmerich & Payne had a negative net margin of 7.16% and a negative return on equity of 2.96%. The business had revenue of $532.30 million for the quarter, compared to the consensus estimate of $493.78 million. During the same period in the previous year, the firm earned ($0.33) EPS. The business’s revenue for the quarter was up 60.5% on a year-over-year basis. analysts predict that Helmerich & Payne will post -0.43 earnings per share for the current fiscal year.

In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $57.80, for a total value of $147,679.00. Following the transaction, the director now owns 12,525 shares in the company, valued at approximately $723,945. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Helmerich & Payne by 4.5% in the second quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock worth $622,721,000 after acquiring an additional 492,673 shares in the last quarter. Vanguard Group Inc. grew its position in Helmerich & Payne by 2.0% in the second quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock worth $582,248,000 after acquiring an additional 205,883 shares in the last quarter. Capital International Investors grew its position in Helmerich & Payne by 37.2% in the third quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock worth $418,279,000 after acquiring an additional 2,177,139 shares in the last quarter. State Street Corp grew its position in Helmerich & Payne by 2.7% in the second quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock worth $350,901,000 after acquiring an additional 172,819 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Helmerich & Payne by 68.8% in the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after acquiring an additional 1,590,793 shares in the last quarter.

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About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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