Royal Bank of Canada Issues Pessimistic Forecast for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its target price reduced by equities research analysts at Royal Bank of Canada from $44.00 to $41.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 21.12% from the stock’s current price.

A number of other research analysts have also issued reports on HP. Barclays dropped their price objective on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Citigroup cut their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.00.

Helmerich & Payne Trading Down 0.3 %

Shares of Helmerich & Payne stock opened at $33.85 on Friday. The firm has a market capitalization of $3.34 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 3.84 and a beta of 1.40. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $33.48 and its 200 day moving average is $35.14. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.11.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HP. Headlands Technologies LLC purchased a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $33,000. Covestor Ltd increased its position in shares of Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the last quarter. Blue Trust Inc. increased its position in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP purchased a new position in shares of Helmerich & Payne in the 3rd quarter worth about $48,000. Finally, Eastern Bank purchased a new position in shares of Helmerich & Payne in the 3rd quarter worth about $61,000. 96.05% of the stock is 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.