Goldman Sachs Increases its Price Target for Helmerich & Payne (HP) Amid Improving Energy Market Conditions

Helmerich & Payne, Inc. (NYSE:HP) ranks among the best oil and gas drilling stocks to buy now. On June 4, Goldman Sachs analyst Ati Modak upgraded Helmerich & Payne, Inc. (NYSE:HP)’s price objective to $41 from $35 and maintained a Neutral rating on the shares as part of a broader analysis on energy stocks.

The firm claims that gradual improvements in oilfield operations, such as rigs returning to operations in the Middle East and corresponding price action in oilfield service equities, have offered new opportunities to the market.

Meanwhile, on May 18, Piper Sandler analyst Derek Podhaizer boosted the firm’s price target for Helmerich & Payne, Inc. (NYSE:HP) from $41 to $43, with an Overweight rating on the company’s stock. Reflecting on the Q1 earnings season, the firm observed that the Energy Security topic dominated management communication, with the term appearing 30 times throughout the seven Diversifieds.

According to Piper Sandler, the group’s setup continues to be favorable as cyclical convergence advances, and US Land, International, and Offshore are all heading in the right direction.

Helmerich & Payne, Inc. (NYSE:HP) provides drilling solutions and technologies for oil and gas exploration and production companies.

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