Global Hunter Securities Reiterates Neutral on Helmerich & Payne (HP)
Helmerich & Payne (NYSE: HP)‘s stock had its “neutral” rating reaffirmed by research analysts at Global Hunter Securities in a report released on Friday. They currently have a $54.00 target price on the stock, down from their previous target price of $59.00.
Helmerich & Payne traded down 0.71% on Friday, hitting $50.63. Helmerich & Payne has a 52-week low of $35.58 and a 52-week high of $73.40. The company has a market cap of $5.437 billion and a price-to-earnings ratio of 11.74.
The company last announced its quarterly results on Thursday, April 26th. It reported $1.20 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $1.21 EPS by $0.01. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Analysts expect that Helmerich & Payne will post $1.31 EPS next quarter.
A number of other firms have also recently commented on HP. Analysts at BMO Capital Markets cut their price target on shares of Helmerich & Payne from $85.00 to $80.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Guggenheim upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note to investors on Monday, April 9th. They now have a $70.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Helmerich & Payne in a research note to investors on Thursday, March 15th. They now have a $62.00 price target on the stock.
Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The Company’s contract drilling business consists of three business segments: U.