The Goldman Sachs Group Has Lowered Expectations for Helmerich & Payne (NYSE:HP) Stock Price

Helmerich & Payne (NYSE:HP) had its price objective dropped by investment analysts at The Goldman Sachs Group from $25.00 to $17.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 9.68% from the stock’s previous close.

A number of other research firms have also recently weighed in on HP. TD Cowen lowered their price objective on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Friday, May 9th. Citigroup reiterated a “neutral” rating and issued a $19.00 price objective (down previously from $25.00) on shares of Helmerich & Payne in a research note on Monday, May 19th. JPMorgan Chase & Co. decreased their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Barclays dropped their target price on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, June 20th. Finally, Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.73.

Helmerich & Payne Price Performance

Shares of HP stock opened at $15.50 on Tuesday. The stock’s 50-day moving average is $17.83 and its 200 day moving average is $24.83. Helmerich & Payne has a 1-year low of $14.65 and a 1-year high of $42.60. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. The company has a market cap of $1.54 billion, a P/E ratio of 7.08 and a beta of 0.83.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $961.03 million. During the same period in the previous year, the company posted $0.84 earnings per share. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. Research analysts predict that Helmerich & Payne will post 2.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Helmerich & Payne

A number of large investors have recently made changes to their positions in HP. Versant Capital Management Inc boosted its holdings in Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 867 shares during the last quarter. Covestor Ltd increased its position in shares of Helmerich & Payne by 61.3% during the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 907 shares during the period. Quarry LP acquired a new stake in Helmerich & Payne in the 1st quarter valued at about $81,000. GAMMA Investing LLC lifted its stake in Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Helmerich & Payne by 82.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 1,268 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

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.