Royal Bank of Canada Lowers Helmerich & Payne (NYSE:HP) Price Target to $41.00

Helmerich & Payne (NYSE:HP) had its price objective dropped by analysts at Royal Bank of Canada from $44.00 to $41.00 in a report issued on Friday,Benzinga reports. The firm 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 18.81% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Barclays dropped their target price on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Citigroup cut their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. The Goldman Sachs Group lowered their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued 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.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $39.00.

Helmerich & Payne Price Performance

NYSE HP traded up $0.57 on Friday, reaching $34.51. 986,492 shares of the company’s stock traded hands, compared to its average volume of 1,381,666. Helmerich & Payne has a 12 month low of $29.46 and a 12 month high of $44.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The stock has a 50-day simple moving average of $33.41 and a 200 day simple moving average of $35.22. The stock has a market cap of $3.41 billion, a PE ratio of 10.03, a P/E/G ratio of 3.84 and a beta of 1.40.

Hedge Funds Weigh In On Helmerich & Payne

Several hedge funds have recently made changes to their positions in HP. UniSuper Management Pty Ltd purchased a new position in Helmerich & Payne during the first quarter worth $1,065,000. Russell Investments Group Ltd. grew its stake in Helmerich & Payne by 10.3% in the first quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after purchasing an additional 14,347 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock valued at $6,809,000 after purchasing an additional 21,852 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Helmerich & Payne in the 1st quarter worth approximately $642,000. Finally, Freestone Capital Holdings LLC bought a new stake in Helmerich & Payne in the 1st quarter valued at about $1,009,000. Hedge funds and other 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.