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Helmerich & Payne (HP) Gets a Sell Rating from Goldman Sachs

Goldman Sachs analyst Neil Mehta maintained a Sell rating on Helmerich & Payne (HPResearch Report) today and set a price target of $38.00. The company’s shares closed last Wednesday at $38.90.

According to TipRanks.com, Mehta is a 5-star analyst with an average return of 12.8% and a 62.2% success rate. Mehta covers the Utilities sector, focusing on stocks such as HF Sinclair Corporation, Par Pacific Holdings, and Occidental Petroleum.

The word on The Street in general, suggests a Hold analyst consensus rating for Helmerich & Payne with a $51.75 average price target, representing a 34.7% upside. In a report released today, Morgan Stanley also maintained a Sell rating on the stock with a $45.00 price target.

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The company has a one-year high of $54.59 and a one-year low of $20.93. Currently, Helmerich & Payne has an average volume of 1.33M.

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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