LMR Partners LLP increased its position in Helmerich & Payne Inc. (NYSE:HP) by 117.8% during the second quarter, Holdings Channel reports. The institutional investor owned 17,365 shares of the company’s stock after buying an additional 9,393 shares during the period. LMR Partners LLP’s holdings in Helmerich & Payne were worth $1,166,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of HP. Independent Portfolio Consultants Inc. increased its stake in shares of 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 increased its stake in Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock valued at $124,000 after buying an additional 33 shares during the period. Nikko Asset Management Americas Inc. purchased a new stake in Helmerich & Payne during the second quarter valued at $146,000. Invictus RG purchased a new stake in Helmerich & Payne during the first quarter valued at $153,000. Finally, Destination Wealth Management purchased a new stake in Helmerich & Payne during the second quarter valued at $201,000.
Helmerich & Payne Inc. (NYSE:HP) traded down 0.81% during midday trading on Friday, hitting $68.58. 1,757,705 shares of the company were exchanged. The stock has a 50 day moving average of $61.80 and a 200-day moving average of $62.30. Helmerich & Payne Inc. has a 1-year low of $40.02 and a 1-year high of $70.28. The stock’s market capitalization is $7.41 billion.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. The company earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. During the same period in the previous year, the company earned $0.27 earnings per share. Helmerich & Payne’s quarterly revenue was down 44.6% on a year-over-year basis. Equities analysts expect that Helmerich & Payne Inc. will post ($1.16) earnings per share for the current year.
Several research firms recently weighed in on HP. Zacks Investment Research raised Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Jefferies Group reissued a “sell” rating and set a $43.00 price objective (up previously from $42.00) on shares of Helmerich & Payne in a report on Monday, July 11th. DA Davidson began coverage on Helmerich & Payne in a report on Thursday, September 15th. They set a “buy” rating and a $72.00 price objective on the stock. Citigroup Inc. raised their price objective on Helmerich & Payne from $61.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Finally, RBC Capital Markets set a $70.00 price objective on Helmerich & Payne and gave the company a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $61.49.
In other Helmerich & Payne news, insider John R. Bell sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $66.35, for a total transaction of $597,150.00. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Lindsay sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $67.45, for a total transaction of $1,011,750.00. Following the transaction, the chief executive officer now directly owns 141,512 shares of the company’s stock, valued at approximately $9,544,984.40. The disclosure for this sale can be found here. 4.23% of the stock is currently owned by corporate insiders.
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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