Analyst Price Target Update on Helmerich & Payne (NYSE:HP)

Helmerich & Payne (NYSE:HP): The stock price is expected to reach $ 57.53 in the short term. The number of analysts agreeing with this consensus is 17. The higher estimate for the short term price target is at $76 while the lower estimate is at $40. The standard deviation of the price stands at $10.47.

Many analysts have stated their opinion on the company shares. Major Brokerage house, Credit Suisse downgrades its ratings on Helmerich & Payne (NYSE:HP). In the latest research report, Credit Suisse raises the target price from $46 per share to $48 per share. According to the latest information available, the shares are now rated Underperform by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 1, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Lindsay John W, director officer (President & CEO) of Helmerich & Payne, Inc., had unloaded 19,000 shares at an average price of $67.37 in a transaction dated on June 9, 2016. The total value of the transaction was worth $1,280,030.

Helmerich & Payne (NYSE:HP) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.53 points or 0.82% at $64.24 with 1,696,273 shares getting traded. Post opening the session at $64.56, the shares hit an intraday low of $63.892 and an intraday high of $65.78 and the price was in this range throughout the day. The company has a market cap of $6,940 million and the number of outstanding shares have been calculated to be 108,039,174 shares. The 52-week high of Helmerich & Payne (NYSE:HP) is $75.06 and the 52-week low is $40.02.

Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Companys contract drilling business consists of three business segments: U.S. Land, Offshore and International Land. Its U.S. Land segment operates drilling operations in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. Its offshore operations are conducted in the Gulf of Mexico and Equatorial Guinea. Its International Land segment operates in seven international locations, including Ecuador, Colombia, Argentina, Tunisia, Bahrain, the United Arab Emirates and Mozambique. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

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