First Citizens Bank & Trust Co. cut its position in shares of Helmerich & Payne Inc. (NYSE:HP) by 89.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,948 shares of the company’s stock after selling 86,775 shares during the period. First Citizens Bank & Trust Co.’s holdings in Helmerich & Payne were worth $668,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in HP. LMR Partners LLP raised its stake in Helmerich & Payne by 117.8% in the second quarter. LMR Partners LLP now owns 17,365 shares of the company’s stock worth $1,166,000 after buying an additional 9,393 shares during the period. SignalPoint Asset Management LLC raised its stake in Helmerich & Payne by 1.2% in the second quarter. SignalPoint Asset Management LLC now owns 12,441 shares of the company’s stock worth $835,000 after buying an additional 144 shares during the period. Northpointe Capital LLC bought a new stake in Helmerich & Payne during the second quarter worth $2,280,000. Baltimore Washington Financial Advisors Inc. raised its stake in Helmerich & Payne by 4.7% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 52,837 shares of the company’s stock worth $3,546,000 after buying an additional 2,382 shares during the period. Finally, ING Groep NV raised its stake in Helmerich & Payne by 5.5% in the second quarter. ING Groep NV now owns 7,112 shares of the company’s stock worth $477,000 after buying an additional 371 shares during the period.
Shares of Helmerich & Payne Inc. (NYSE:HP) traded down 1.12% during trading on Friday, reaching $68.67. The company had a trading volume of 806,608 shares. The company’s 50 day moving average is $62.49 and its 200-day moving average is $62.58. The stock’s market capitalization is $7.42 billion. Helmerich & Payne Inc. has a 1-year low of $40.02 and a 1-year high of $70.39.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.06. The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $298.71 million. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. The business’s revenue for the quarter was down 44.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. On average, equities research analysts anticipate that Helmerich & Payne Inc. will post ($1.16) earnings per share for the current year.
A number of research firms have commented on HP. RBC Capital Markets set a $70.00 price target on Helmerich & Payne and gave the company a “buy” rating in a research report on Friday, October 7th. Citigroup Inc. reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $63.00) on shares of Helmerich & Payne in a research report on Wednesday, October 5th. Argus lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. DA Davidson began coverage on Helmerich & Payne in a research report on Thursday, September 15th. They set a “buy” rating and a $72.00 price target for the company. Finally, Morgan Stanley raised Helmerich & Payne from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $80.00 in a research report on Tuesday, September 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $61.49.
In other news, insider John R. Bell sold 9,000 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $66.35, for a total transaction of $597,150.00. Following the transaction, the insider now directly owns 45,666 shares of the company’s stock, valued at $3,029,939.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John W. Lindsay sold 15,000 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $67.45, for a total value of $1,011,750.00. Following the transaction, the chief executive officer now directly owns 141,512 shares in the company, valued at $9,544,984.40. The disclosure for this sale can be found here. Insiders own 4.23% of the company’s stock.
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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