Why Has KLR Group Given Helmerich & Payne (NYSE:HP) a $78.00 Price Target
In a recent research report sent to investors on 14 December, KLR Group analyst has today launched coverage for Helmerich & Payne (NYSE:HP) shares with a Buy rating. The target price per share is now $78.00.
From a total of 22 analysts covering Helmerich & Payne (NYSE:HP) stock, 10 rate it a ”Buy”, 4 a “Sell”, and 15 a ”Hold”. This means that 34% of the ratings are positive. The highest target price is $70 while the lowest target price is $40. The mean of all analyst targets is $56.27 with a 7.86% above today’s ($51.8) stock price. Helmerich & Payne was the topic of 31 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Citigroup upgraded shares on December 11 to “Neutral” rating. FBR Capital maintained shares with “Outperform” rating and $69 target share price in a report from a September 21. Evercore downgraded HP stock in a recent report from November 16 to “Hold” rating. RBC Capital Markets downgraded the rating on September 18. RBC Capital Markets has a “Sector Perform” rating and a $55 price target on shares. Finally, Susquehanna maintained the stock with “Neutral” rating in a report issued on a November 13.
Approximately 887,870 shares of stock traded hands. Helmerich & Payne, Inc. (NYSE:HP) has declined 31.95% since May 11, 2015 and is downtrending. It has underperformed by 27.54% 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 dived, 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 buying transaction, and a total of 0 insider sales 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 $5.60 billion. The Firm operates in the contract drilling industry. It has 13.41 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.”