Analysts Update Their Price Forecasts For Helmerich & Payne Inc. (HP)

BlackRock Fund Advisors has recently announced that it has increased stake in Helmerich & Payne Inc. (NYSE:HP) by 0.84%. After grabbing 16.19 million shares, the institutional investor is now in possession of 0.13 million shares of the Energy Company. The new investment brought the stake of investor firm to 15.50% having worth around $681.3 million. Moreover, Van Eck Associates Corp. increased its share by 0.11 million to have a control over 2.35 million shares. And Geode Capital Management LLC raised its holdings to 58912.0 shares by acquiring 1.9 million shares or 1.82% of the stake.

Helmerich & Payne Inc. (HP) concluded trading on 03/15/23 at a closing price of $35.50, with 2.67 million shares of worth about $94.68 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -19.88% during that period and on Wednesday the price saw a loss of about -5.43%. Currently the company’s common shares owned by public are about 105.25M shares, out of which, 101.84M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the HP stock and their offered price forecasts bring an average price target of $60.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $77.00 and could fall to a lowest price of $42.00. The stock’s current price level is 41.32% above of average price target set by the analysts, while a rise to estimated low would result in gain of 15.48% for the stock. However, touching the estimated high of $77.00 would mean a gain of 53.9% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 440,780 shares in 15 of the transactions. In 43 selling transactions, insiders dumped 193,940 shares.

iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Helmerich & Payne Inc. iShares Core S&P Small Cap ETF is currently holding 7.99 million shares of worth totaling $336.1 million. The company recently came buying 16198.0 shares which brought its stake up to 7.64% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 35726.0 shares, after which its hold over company’s outstanding shares expand to 2.79%, leaving 2.91 million shares with the mutual fund that have a worth of about $122.61 million. Vanguard Small Cap Index Fund, after buying 2.46 million shares, have now control over 2.35% of the stake in the company. It holds 13400.0 shares of worth $103.41 million.

Helmerich & Payne Inc. (NYSE: HP) started trading at $35.59, below -$1.95 from concluding price of the previous day. However, the stock later moved at a day high price of 36.33, or with a loss of -5.43%. Stock saw a price change of -16.94% in past 5 days and over the past one month there was a price change of -22.78%. Year-to-date (YTD), HP shares are showing a performance of -28.01% which decreased to -12.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $34.41 but also hit the highest price of $54.17 during that period. The average intraday trading volume for Helmerich & Payne Inc. shares is 1.33 million. The stock is currently trading -15.85% below its 20-day simple moving average (SMA20), while that difference is down -21.42% for SMA50 and it goes to -20.77% lower than SMA200.

BlackRock Fund Advisors acquired 16.19 million shares of Helmerich & Payne Inc. having value of about $681.3 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.13 million shares in the company valued at close to $4771093.5, or have control over 0.84% stake in the company. Helmerich & Payne Inc. (NYSE: HP) currently have 105.25M outstanding shares and institutions hold larger chunk of about 96.20% of that. Holding of mutual funds in the company is about 4.26% while other institutional holders and individual stake holders have control over 56.43% and 38.42% of the stake respectively.

The stock has a current market capitalization of $3.79B and its 3Y-monthly beta is at 1.68. PE ratio of stock for trailing 12 months is 24.88, while it has posted earnings per share of $1.43 in the same period. It has Quick Ratio of 2.10 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HP, volatility over the week remained 5.39% while standing at 4.23% over the month.

Analysts are in expectations that Helmerich & Payne Inc. (HP) stock would likely to be making an EPS of $1.05 in the current quarter, while forecast for next quarter EPS is $1.28 and it is $6.04 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.9 which is $1.2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 101.50% while it is estimated to increase by 29.86% in next year.

Analysts at 20 brokerage firms have issued recommendations for the Helmerich & Payne Inc. (HP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 20 Wall Street analysts, 10 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

On October 07, 2022, Piper Sandler Resumed their recommendations, while on September 26, 2022, Morgan Stanley Upgrade their ratings for the stock with a price target of $55. Stock get an Overweight rating from Barclays on July 14, 2022.