Jefferies Thinks Helmerich & Payne’s Stock is Going to Recover


Jefferies analyst Brad Handler reiterated a Buy rating on Helmerich & Payne (HP) on December 13 and set a price target of $72. The company’s shares closed on Friday at $58.48, close to its 52-week low of $57.24.

According to TipRanks.com, Handler has 0 stars on 0-5 star ranking scale with an average return of -9.9% and a 32.4% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Mammoth Energy Services, and C&J Energy Services Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Helmerich & Payne with a $72.14 average price target, implying a 23.4% upside from current levels. In a report issued on December 11, Wells Fargo also upgraded the stock to Buy with a $72 price target.

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Based on Helmerich & Payne’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.35 million. In comparison, last year the company had a GAAP net loss of $22.99 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is neutral on the stock. Most recently, in October 2018, Edward Rust, a Director at HP bought 4,122 shares for a total of $86,809.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Helmerich & Payne, Inc. engages in contract drilling of oil and gas well. It operates through the following segments: U.S. Land, Offshore, and International Land.

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