Wall Street’s forecasts for HP
In this final part of our series, we’ll look at recent Wall Street analyst forecasts for Helmerich & Payne (HP).
Consensus rating for HP
Approximately 32% of analysts tracking Helmerich & Payne rated it a “buy” or some equivalent. Approximately 42% rated it a “hold” or an equivalent. The remaining 26% rated it a “sell.” HP is 2.6% of the PowerShares High Yield Equity Dividend Achievers ETF (PEY).
In comparison, approximately 31% of analysts tracking McDermott International (MDR) rated it a “buy” or some equivalent. About 62% of analysts rated it a “hold.” The rest of the analysts rated it a “sell.”
Analyst recommendations for HP
When it comes to individual recommendations, BMO Capital Markets, the investment banking subsidiary of Canadian Bank of Montreal, gave HP a target price of $40. That’s one of its lowest target prices. HP currently trades near $69, implying a ~42% negative return over the next 12 months.
Morgan Stanley (MS), a global investment bank, has a $70 target price for HP. That’s one of the highest target prices. At its current share price, this implies a 2% return over the next 12 months.
Stephens, an independent financial adviser, gives HP a target of $55. This implies a ~20% negative return from Helmerich & Payne over the next 12 months.
Analyst target prices for HP
While the highest target price for HP is $83, the lowest is $39. The median target price surveyed among sell-side analysts is ~$61.50. HP is currently trading at ~$69, implying an 11% downside at its median price.