Royal Bank of Canada Reiterates “$68.00” Price Target for Helmerich & Payne (NYSE:HP)

Helmerich & Payne (NYSE:HP) has been assigned a $68.00 price objective by Royal Bank of Canada in a report released on Thursday, December 21st. The firm presently has a “hold” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 3.22% from the company’s current price.

A number of other equities research analysts have also recently commented on HP. B. Riley reiterated a “neutral” rating on shares of Helmerich & Payne in a report on Wednesday, November 1st. SunTrust Banks restated a “sell” rating and set a $37.00 price objective (down previously from $66.00) on shares of Helmerich & Payne in a report on Tuesday, October 3rd. Cowen set a $50.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets restated a “sell” rating on shares of Helmerich & Payne in a report on Friday, October 13th. Finally, Deutsche Bank began coverage on Helmerich & Payne in a report on Tuesday, October 10th. They set a “hold” rating and a $45.00 price objective on the stock. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.04.

Helmerich & Payne (NYSE:HP) opened at $70.26 on Thursday. The stock has a market capitalization of $7,630.00, a P/E ratio of -59.04 and a beta of 1.30. Helmerich & Payne has a one year low of $42.16 and a one year high of $81.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.19 and a current ratio of 3.59.

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

In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the transaction, the director now directly owns 12,525 shares of the company’s stock, valued at $723,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HP. Capital International Investors increased its position in shares of Helmerich & Payne by 37.2% during 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 during the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Helmerich & Payne by 2,253.8% during the second quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock worth $116,720,000 after acquiring an additional 2,056,689 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Helmerich & Payne by 68.8% during 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 during the last quarter. Kiltearn Partners LLP increased its position in shares of Helmerich & Payne by 165.0% during the second quarter. Kiltearn Partners LLP now owns 2,289,302 shares of the oil and gas company’s stock worth $124,401,000 after acquiring an additional 1,425,513 shares during the last quarter. Finally, Prudential PLC increased its position in shares of Helmerich & Payne by 64.8% during the second quarter. Prudential PLC now owns 2,487,853 shares of the oil and gas company’s stock worth $135,190,000 after acquiring an additional 977,825 shares during the last quarter.

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Helmerich & Payne Company Profile

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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