Helmerich & Payne (NYSE:HP) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

Helmerich & Payne (NYSE:HP) had its price target lowered by analysts at The Goldman Sachs Group from $32.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 30.33% from the stock’s current price.

HP has been the topic of a number of other reports. Evercore ISI reissued an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Morgan Stanley reissued an “underweight” rating and set a $27.00 target price on shares of Helmerich & Payne in a research report on Thursday, March 27th. Citigroup reduced their target price on Helmerich & Payne from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday. Argus upgraded Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Finally, Barclays reduced their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.22.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $19.18 on Thursday. Helmerich & Payne has a 52 week low of $17.82 and a 52 week high of $43.41. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $25.13 and a 200-day moving average price of $30.80. The company has a market cap of $1.91 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Equities analysts anticipate that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Belgacem Chariag purchased 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The stock was bought at an average price 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 $1,478,730.48. This represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Helmerich & Payne by 0.8% in the third quarter. State Street Corp now owns 4,182,972 shares of the oil and gas company’s stock valued at $127,246,000 after acquiring an additional 34,395 shares during the period. Earnest Partners LLC boosted its holdings in Helmerich & Payne by 1.0% in the 4th quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock valued at $111,654,000 after purchasing an additional 35,013 shares during the period. ARGA Investment Management LP boosted its holdings in Helmerich & Payne by 42.5% in the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after purchasing an additional 801,000 shares during the period. American Century Companies Inc. grew its position in shares of Helmerich & Payne by 14.0% during the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock valued at $85,121,000 after purchasing an additional 327,374 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Helmerich & Payne by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company’s stock worth $68,373,000 after purchasing an additional 22,875 shares during the period. 96.05% of the stock is currently owned by 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.