Stock Analysis:Helmerich & Payne (NYSE:HP) Price Target Upgraded
In a very recent research note revealed by RBC Capital Markets on 18 December, Helmerich & Payne (NYSE:HP) had its TP increased to $54.00. The firm presently has a solid Sector Perform rating on shares.
From a total of 23 analysts covering Helmerich & Payne (NYSE:HP) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $78 while the lowest target price is $40. The mean of all analyst targets is $57.22 with a 14.39% above today’s ($49.88) stock price. Helmerich & Payne was the topic of 33 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Iberia Capital Partners maintained shares on December 15 with “Sector Perform” rating. Cowen & Co maintained shares with “Market Perform” rating and $54 target share price in a report from a November 16. Citigroup upgraded HP stock in a recent report from December 11 to “Neutral” rating. Susquehanna maintained the rating on November 13. Susquehanna has a “Neutral” rating and a $56 price target on shares. Finally, Evercore downgraded the stock to “Hold” rating in a report issued on a November 16.
The stock decreased 3.71% or $1.92 during the last trading session, striking $49.88. Approximately 2.71 million shares of stock traded hands or 22.62% up from the average. Helmerich & Payne, Inc. (NYSE:HP) has declined 29.85% since May 15, 2015 and is downtrending. It has underperformed by 26.04% the S&P500.
The overall sentiment of institutions has decreased to 1.04 in Q2 2015. Its down 0.02, from 1.06 in 2015Q2. The ratio worsened, as 79 institutions have sold all the shares of Helmerich & Payne, Inc. that they owned while 147 funds have taken shares off the table. 58 funds have purchased shares for the first time while 177 added to their positions. These institutions now hold 120.93 million shares or 17.30% more than the 103.10 million shares they owned in 2015Q2.
The Fund Courage Capital Management Llc currently is holding shares equating to 4.29% of its total portfolio in Helmerich & Payne, Inc. representing a total of 118,769 shares. Another fund,Oppenheimer & Close Llc, is holding a total of 102,740 shares equating to 4.12% of their holdings. Additionally, Energy Opportunities Capital Management Llc has a 238,876 share stake in Helmerich & Payne, Inc. which represents 3.7% of their total portfolio. The Fund, Sfe Investment Counsel, based out of California, has also built up a stake in the stock, which represents a total of 3.17% of their total portfolio. Finally Archon Capital Management Llc, a fund which is based in the state of Washington reported a total holdings of 70,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to September 28, 2015, shareholders of Helmerich & Payne, Inc. have witnessed 1 buy, and a total of 0 selling transactions equating to a net activity of approximately $188,051 . Helm Gordon K bought 4,000 shares worth approximately $188,051.
Helmerich & Payne, Inc. is engaged in contract drilling of gas and oil wells for others. The company has a market cap of $5.59 billion. The Firm operates in the contract drilling industry. It has 12.92 P/E ratio. The Company’s contract drilling business consists of three business divisions: U.S.
According to Zacks Investment Research, “Helmerich & Payne, Inc. is primarily engaged in the exploration, production, and sale of crude oil and natural gas and in contract drilling of oil and gas wells for others. These activities account for the major portion of its operating revenues. The company is also engaged in the ownership, development, and operation of commercial real estate.”