Royal Bank of Canada Has Lowered Expectations for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price target reduced by analysts at Royal Bank of Canada from $41.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 29.94% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Barclays dropped their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Finally, Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.75.

Helmerich & Payne Stock Down 2.8 %

Shares of HP stock traded down $0.79 during trading hours on Friday, hitting $26.94. 1,724,760 shares of the company were exchanged, compared to its average volume of 1,547,072. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.71 billion, a PE ratio of 7.83, a PEG ratio of 3.88 and a beta of 1.37. The business has a 50 day moving average of $33.27 and a two-hundred day moving average of $33.81. Helmerich & Payne has a 52 week low of $27.00 and a 52 week high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. Analysts anticipate that Helmerich & Payne will post 3.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its position in Helmerich & Payne by 33.1% during the 2nd quarter. Creative Planning now owns 20,882 shares of the oil and gas company’s stock valued at $755,000 after purchasing an additional 5,196 shares during the period. BWM Planning LLC bought a new stake in Helmerich & Payne in the 3rd quarter valued at about $1,291,000. Exchange Traded Concepts LLC grew its stake in shares of Helmerich & Payne by 38.9% in the third quarter. Exchange Traded Concepts LLC now owns 31,803 shares of the oil and gas company’s stock worth $967,000 after purchasing an additional 8,907 shares in the last quarter. Fruth Investment Management grew its position in Helmerich & Payne by 6.3% in the 3rd quarter. Fruth Investment Management now owns 13,425 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 800 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in shares of Helmerich & Payne by 13.1% during the 3rd quarter. AlphaMark Advisors LLC now owns 9,086 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 1,055 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

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.