Barclays Downgrades Helmerich & Payne: Here's What You Need To Know

Barclays downgraded its rating of Helmerich & Payne HP to Equal-Weight with a price target of $40.00, changing its price target from $44.00 to $40.00.

Shares of Helmerich & Payne are trading down 1.68% over the last 24 hours, at $33.28 per share.

A move to $40.00 would account for a 20.19% increase from the current share price.

About Helmerich & Payne

Helmerich & Payne has the largest fleet of U.S. land drilling rigs. The company's FlexRig line is the leading choice to drill horizontal wells for production of U.S. tight oil and gas. H&P is present in nearly every major U.S. shale play and also has a small but growing presence internationally.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.