Barclays Lowers Helmerich & Payne (NYSE:HP) Price Target to $24.00

Helmerich & Payne (NYSE:HP) had its target price reduced by research analysts at Barclays from $36.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target would suggest a potential downside of 8.69% from the stock’s previous close.

Several other analysts have also issued reports on the company. Royal Bank of Canada cut their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Evercore ISI reissued an “in-line” rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.25.

Helmerich & Payne Stock Performance

HP opened at $26.28 on Wednesday. The company’s 50 day moving average is $32.05 and its 200 day moving average is $33.07. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 3.43 and a beta of 1.37. Helmerich & Payne has a 12-month low of $25.69 and a 12-month high of $44.11.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Helmerich & Payne will post 2.95 EPS for the current year.

Insider Buying and Selling

In other news, CEO John W. Lindsay purchased 20,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Belgacem Chariag acquired 37,356 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the acquisition, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Helmerich & Payne by 5.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 158,687 shares of the oil and gas company’s stock worth $5,081,000 after buying an additional 8,553 shares in the last quarter. Vident Advisory LLC purchased a new position in Helmerich & Payne in the fourth quarter worth about $657,000. Systematic Financial Management LP increased its stake in Helmerich & Payne by 3.8% during the fourth quarter. Systematic Financial Management LP now owns 573,271 shares of the oil and gas company’s stock worth $18,356,000 after acquiring an additional 20,770 shares during the last quarter. Scissortail Wealth Management LLC raised its position in Helmerich & Payne by 232,833.3% during the fourth quarter. Scissortail Wealth Management LLC now owns 13,976 shares of the oil and gas company’s stock valued at $448,000 after purchasing an additional 13,970 shares during the period. Finally, Private Capital Management LLC lifted its stake in shares of Helmerich & Payne by 8.3% in the 4th quarter. Private Capital Management LLC now owns 39,000 shares of the oil and gas company’s stock valued at $1,249,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Company Profile

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.