why Helmerich & Payne, Inc. [HP] is a Good Choice for Investors After New Price Target of $43.65

Helmerich & Payne, Inc. [NYSE: HP] jumped around 4.36 points on Tuesday, while shares priced at $40.62 at the close of the session, up 12.02%. The company report on January 29, 2024 at 4:15 PM that Helmerich & Payne, Inc. Announces Fiscal First Quarter Results.

The North America Solutions (“NAS”) segment exited the first quarter of fiscal year 2024 with 151 active rigs and experienced an increase in revenue per day of approximately $1,000/day to $38,300/day on a sequential basis, while direct margins(1) per day increased by approximately $1,200/day to $18,700/day.

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The Company reported fiscal first quarter net income of $95 million, or $0.94 per diluted share; including select items(2) of $(0.03) per diluted share.

Compared to the average trading volume of 1.33M shares, HP reached a trading volume of 6785984 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Helmerich & Payne, Inc. [HP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HP shares is $43.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HP stock is a recommendation set at 2.65. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Helmerich & Payne, Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 16, 2024.

The Average True Range (ATR) for Helmerich & Payne, Inc. is set at 1.36, with the Price to Sales ratio for HP stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 3.63. Price to Free Cash Flow for HP in the course of the last twelve months was 10.49 with Quick ratio for the last quarter at 1.89.

How has HP stock performed recently?

Helmerich & Payne, Inc. [HP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.98. With this latest performance, HP shares gained by 11.72% in over the last four-week period, additionally sinking by -8.33% over the last 6 months – not to mention a drop of -15.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HP stock in for the last two-week period is set at 75.79, with the RSI for the last a single of trading hit 85.61, and the three-weeks RSI is set at 67.90 for Helmerich & Payne, Inc. [HP]. The present Moving Average for the last 50 days of trading for this stock 35.99, while it was recorded at 36.75 for the last single week of trading, and 37.89 for the last 200 days.

Helmerich & Payne, Inc. [HP]: Deeper insight into the fundamentals

Helmerich & Payne, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.89 and a Current Ratio set at 2.11.

Earnings analysis for Helmerich & Payne, Inc. [HP]

With the latest financial reports released by the company, Helmerich & Payne, Inc. posted 1.26/share EPS, while the average EPS was predicted by analysts to be reported at 1.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HP.

Insider trade positions for Helmerich & Payne, Inc. [HP]

The top three institutional holders of HP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HP stock with ownership which is approximately 5.8325%.