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Helmerich & Payne (HP) Gets a Buy Rating from RBC Capital

RBC Capital analyst Keith Mackey maintained a Buy rating on Helmerich & Payne (HPResearch Report) on July 7 and set a price target of $65.00. The company’s shares closed last Friday at $42.98.

According to TipRanks.com, Mackey is a 5-star analyst with an average return of 24.0% and a 65.2% success rate. Mackey covers the Industrial Goods sector, focusing on stocks such as Liberty Oilfield Services, Baker Hughes Company, and Trican Well Service.

The word on The Street in general, suggests a Hold analyst consensus rating for Helmerich & Payne with a $52.78 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 $468 million and GAAP net loss of $4.98 million. In comparison, last year the company earned revenue of $296 million and had a GAAP net loss of $121 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is neutral on the stock.

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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.

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