Citi Cuts PT on Helmerich & Payne (HP) – Here’s Why

Helmerich & Payne, Inc. (NYSE:HP) is one of the best oil and gas stocks to buy for the next decade. Citi cut the price target on Helmerich & Payne, Inc. (NYSE:HP) to $36 from $38 on June 29 and reaffirmed a Neutral rating on the shares. The firm told investors in a research note that it updated models in the land driller group, saying the companies are at a “crossroads.” It added that they should see momentum in fiscal Q3, but improvement past that quarter is at risk with the 2027 oil strip recently falling toward $66.

Helmerich & Payne, Inc. (NYSE:HP) also received a rating update from Goldman Sachs on June 4. The firm lifted the price target on the stock to $41 from $35 and maintained a Neutral rating on the shares, with the rating update coming as part of a broader research note on energy names. The firm told investors in the research note that incremental improvements in oilfield activity, with rigs resuming work in the Middle East and subsequent price action in oilfield service stocks, have created unique opportunities.

Helmerich & Payne, Inc. (NYSE:HP) is involved in the provision of drilling solutions and technologies. Its operations are divided into the following segments: North America Solutions, Offshore Solutions, International Solutions, and Others.

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