Helmerich & Payne (NYSE:HP) has been assigned a $65.00 target price by investment analysts at Royal Bank of Canada in a report issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 34.10% from the company’s previous close.

Several other research analysts have also issued reports on HP. B. Riley reiterated a “buy” rating on shares of Gold Standard Ventures in a report on Wednesday, July 24th. AltaCorp Capital reiterated a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Zacks Investment Research lowered W. R. Grace & Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Co reiterated a “buy” rating on shares of Helmerich & Payne in a report on Thursday, June 27th. Finally, Piper Jaffray Companies set a $10.00 price target on Mammoth Energy Services and gave the stock a “buy” rating in a report on Friday, June 7th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $65.53.

NYSE:HP traded up $0.41 on Friday, hitting $48.47. The stock had a trading volume of 2,930 shares, compared to its average volume of 1,274,323. The company’s fifty day moving average price is $50.49. The company has a market cap of $5.26 billion, a P/E ratio of 344.14 and a beta of 1.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 2.86. Helmerich & Payne has a 52 week low of $44.56 and a 52 week high of $73.74.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $687.97 million for the quarter, compared to analyst estimates of $689.41 million. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, analysts anticipate that Helmerich & Payne will post 1.6 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Park National Corp OH grew its position in shares of Helmerich & Payne by 43.5% in the first quarter. Park National Corp OH now owns 35,701 shares of the oil and gas company’s stock valued at $1,984,000 after purchasing an additional 10,826 shares in the last quarter. Legal & General Group Plc grew its position in shares of Helmerich & Payne by 6.6% in the fourth quarter. Legal & General Group Plc now owns 570,312 shares of the oil and gas company’s stock valued at $27,340,000 after purchasing an additional 35,490 shares in the last quarter. First Midwest Bank Trust Division grew its position in shares of Helmerich & Payne by 58.3% in the first quarter. First Midwest Bank Trust Division now owns 19,694 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 7,254 shares in the last quarter. Tibra Equities Europe Ltd purchased a new position in shares of Helmerich & Payne in the first quarter valued at $2,284,000. Finally, Wells Fargo & Company MN grew its position in shares of Helmerich & Payne by 37.8% in the first quarter. Wells Fargo & Company MN now owns 639,200 shares of the oil and gas company’s stock valued at $35,514,000 after purchasing an additional 175,406 shares in the last quarter. 90.62% of the stock is owned by institutional investors.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Analyst Recommendations for Helmerich & Payne (NYSE:HP)

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