Helmerich & Payne Inc. (HP) Trading 3% Higher
Helmerich & Payne Inc. (NYSE:HP) traded up 3% during trading on Wednesday . The company traded as high as $58.40 and last traded at $58.18, with a volume of 799,737 shares trading hands. The stock had previously closed at $56.46.
A number of equities research analysts recently commented on the stock. Citigroup Inc. increased their price objective on shares of Helmerich & Payne from $61.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, July 13th. FBR & Co lowered their price objective on shares of Helmerich & Payne from $66.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, July 29th. Simmons reissued a “neutral” rating and issued a $50.00 price objective (down from $54.00) on shares of Helmerich & Payne in a research note on Thursday, August 4th. KeyCorp raised shares of Helmerich & Payne from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 21st. Finally, Morgan Stanley raised shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $70.00 to $80.00 in a research note on Tuesday, September 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $60.79.
The stock has a 50-day moving average of $61.53 and a 200 day moving average of $62.13. The stock’s market cap is $6.38 billion.
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Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.06. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The company earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. During the same quarter last year, the company earned $0.27 earnings per share. The business’s revenue was down 44.6% on a year-over-year basis. On average, equities analysts predict that Helmerich & Payne Inc. will post ($1.16) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Helmerich & Payne by 74.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,604 shares of the company’s stock worth $108,000 after buying an additional 687 shares during the period. Independent Portfolio Consultants Inc. raised its position in Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 125 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock worth $124,000 after buying an additional 33 shares in the last quarter. Nikko Asset Management Americas Inc. acquired a new position in Helmerich & Payne during the second quarter worth approximately $146,000. Finally, Invictus RG acquired a new position in Helmerich & Payne during the first quarter worth approximately $153,000.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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