Helmerich & Payne (NYSE:HP) PT Lowered to $39.00 at Barclays

Helmerich & Payne (NYSE:HP - Get Free Report) had its target price cut by Barclays from $42.00 to $39.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective would suggest a potential upside of 12.49% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada increased their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Friday, July 26th. Bank of America reduced their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a "buy" rating for the company in a research note on Monday, July 15th. The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating on the stock in a research report on Thursday, August 29th. Citigroup decreased their price target on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating on the stock in a research note on Friday, September 13th. Finally, Evercore ISI raised Helmerich & Payne to a "strong-buy" rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $40.75.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded up $0.61 during trading hours on Wednesday, reaching $34.67. 956,279 shares of the stock were exchanged, compared to its average volume of 1,384,806. The stock has a market cap of $3.42 billion, a P/E ratio of 9.91, a P/E/G ratio of 3.80 and a beta of 1.42. The firm's 50 day moving average is $32.81 and its 200 day moving average is $36.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.80.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.15. The firm had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm's revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Analysts predict that Helmerich & Payne will post 3.48 EPS for the current fiscal year.

Institutional Trading of Helmerich & Payne

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Helmerich & Payne in the 1st quarter valued at about $33,000. Hexagon Capital Partners LLC boosted its position in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 787 shares during the last quarter. Covestor Ltd boosted its position in Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 674 shares during the last quarter. Whittier Trust Co. grew its stake in Helmerich & Payne by 94.9% in the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company's stock worth $51,000 after acquiring an additional 595 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Helmerich & Payne during the 1st quarter worth $102,000. 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.