In a report released today, Tom Curran from B.Riley FBR maintained a Hold rating on Helmerich & Payne (HP), with a price target of $26.00. The company’s shares closed last Wednesday at $15.96, close to its 52-week low of $12.40.
According to TipRanks.com, Curran ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -19.5% and a 30.7% success rate. Curran covers the Services sector, focusing on stocks such as Solaris Oilfield Infrastructure, Independence Contract Drilling, and Liberty Oilfield Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Helmerich & Payne with a $20.98 average price target.
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Based on Helmerich & Payne’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $634 million and GAAP net loss of $421 million. In comparison, last year the company earned revenue of $721 million and had a net profit of $60.89 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HP in relation to earlier this year.
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Helmerich & Payne, Inc. engages in contract drilling of oil and gas well. It operates through the following segments: U.S. Land, Offshore, International Land and Helmerich and Payne Technologies. The U.S. Land segment operates its drilling business primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. The Offshore segment conducts its business in the Gulf of Mexico and Equatorial Guinea. The International Land segment operates in six international locations including Ecuador, Colombia, Argentina, Bahrain, United Arab Emirates, and Mozambique. The Helmerich and Payne Technologies segment focuses on developing, promoting and commercializing technologies designed to improve the efficiency and accuracy of drilling operations, as well as wellbore quality and placement. The company was founded by Walter Helmerich Hugo II and William Payne in 1920 and is headquartered in Tulsa, OK.
