Helmerich & Payne (NYSE:HP) Given New $35.00 Price Target at Royal Bank of Canada

Helmerich & Payne (NYSE:HP - Get Free Report) had its target price cut by stock analysts at Royal Bank of Canada from $41.00 to $35.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the oil and gas company's stock. Royal Bank of Canada's target price indicates a potential upside of 28.23% from the company's current price.

Several other research firms have also weighed in on HP. Benchmark restated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Barclays reduced their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 20th. Evercore ISI restated an "in-line" rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Finally, Citigroup upgraded shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and raised their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $38.75.

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Helmerich & Payne Price Performance

Helmerich & Payne stock traded down $0.13 during trading hours on Friday, hitting $27.30. 1,774,788 shares of the company traded hands, compared to its average volume of 1,640,000. The firm has a market cap of $2.71 billion, a P/E ratio of 8.98, a P/E/G ratio of 3.41 and a beta of 1.37. The company has a quick ratio of 2.40, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $32.96 and its two-hundred day simple moving average is $33.58. Helmerich & Payne has a 1-year low of $26.61 and a 1-year high of $44.11.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, analysts forecast that Helmerich & Payne will post 3.11 earnings per share for the current fiscal year.

Insider Transactions at Helmerich & Payne

In related news, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares of the company's stock, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John W. Lindsay acquired 20,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the transaction, the chief executive officer now directly owns 691,214 shares of the company's stock, valued at $19,042,945.70. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its stake in Helmerich & Payne by 18.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company's stock valued at $1,784,000 after acquiring an additional 9,004 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in Helmerich & Payne in the third quarter valued at approximately $619,000. FMR LLC lifted its stake in Helmerich & Payne by 510.7% in the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company's stock valued at $4,279,000 after acquiring an additional 117,624 shares during the last quarter. Tandem Financial LLC acquired a new stake in Helmerich & Payne in the fourth quarter valued at approximately $413,000. Finally, Barclays PLC lifted its stake in Helmerich & Payne by 320.2% in the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company's stock valued at $6,035,000 after acquiring an additional 151,196 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

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.