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Global Hunter Securities Analysts Begin Coverage on Helmerich & Payne (NYSE: HP)

Global Hunter Securities research analysts began coverage for shares of Helmerich & Payne (NYSE: HP) in a research note issued to investors on Thursday. They set an “accumulate” rating and a $62.00 price target on the company’s stock.

Helmerich & Payne (NYSE: HP)’s stock opened at 48.74 on Friday. Helmerich & Payne has a 52 week range of $32.34 to $49.13. The stock’s 50-day moving average is $45.87 and its 200-day moving average is $41.43. Analysts predict on average that Helmerich & Payne will post $0.79 earnings per share next quarter. The company has a market cap of $5.166 billion and a P/E (price-to-earnings ratio) of 33.53.

About Helmerich & Payne (NYSE: HP)
Helmerich & Payne, Inc. is engaged in contract drilling of oil and gas wells for others. The contract drilling business is composed of three business segments: U.S. land drilling, offshore drilling and international land drilling. The United States drilling is conducted primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Utah, Arkansas, New Mexico, and North Dakota. The offshore drilling operations are conducted in the Gulf of Mexico, and offshore of California, Trinidad and Equatorial Guinea. The international land segment operated in Venezuela, Ecuador, Colombia, Argentina, Mexico and Tunisia. The subsidiary of the Company is TerraVici Drilling Solutions, Inc. (TerraVici).

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