Prudential Financial Inc. raised its position in shares of Helmerich & Payne Inc. (NYSE:HP) by 11.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 180,812 shares of the company’s stock after buying an additional 17,995 shares during the period. Prudential Financial Inc. owned about 0.17% of Helmerich & Payne worth $12,138,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its stake in Helmerich & Payne by 3.7% in the first quarter. State Street Corp now owns 5,343,817 shares of the company’s stock valued at $313,781,000 after buying an additional 190,749 shares during the period. BlackRock Fund Advisors boosted its stake in Helmerich & Payne by 0.9% in the first quarter. BlackRock Fund Advisors now owns 5,319,620 shares of the company’s stock valued at $312,368,000 after buying an additional 48,150 shares during the period. Bank of New York Mellon Corp boosted its stake in Helmerich & Payne by 12.5% in the second quarter. Bank of New York Mellon Corp now owns 3,136,239 shares of the company’s stock valued at $210,535,000 after buying an additional 348,693 shares during the period. Dimensional Fund Advisors LP boosted its stake in Helmerich & Payne by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,273 shares of the company’s stock valued at $209,054,000 after buying an additional 142,214 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Helmerich & Payne by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,716,589 shares of the company’s stock valued at $159,518,000 after buying an additional 54,145 shares during the period.
Helmerich & Payne Inc. (NYSE:HP) traded down 0.07% during mid-day trading on Monday, hitting $67.25. 533,389 shares of the stock were exchanged. Helmerich & Payne Inc. has a 52 week low of $40.02 and a 52 week high of $70.28. The company’s market capitalization is $7.27 billion. The stock’s 50-day moving average is $61.05 and its 200 day moving average is $62.07.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the 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 firm earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. During the same quarter in the prior year, the business posted $0.27 EPS. The firm’s revenue for the quarter was down 44.6% on a year-over-year basis. On average, analysts anticipate that Helmerich & Payne Inc. will post ($1.16) EPS for the current year.
Several analysts have recently commented on the stock. Citigroup Inc. increased their price target 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 decreased their price target 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. KeyCorp upgraded 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 report on Tuesday, June 21st. Simmons restated a “neutral” rating and issued a $50.00 price objective (down from $54.00) on shares of Helmerich & Payne in a report on Thursday, August 4th. Finally, Morgan Stanley upgraded 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 report on Tuesday, September 6th. Five 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. Helmerich & Payne presently has an average rating of “Hold” and an average price target of $60.79.
In other 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 value of $597,150.00. Following the transaction, the insider now owns 45,666 shares in the company, valued at $3,029,939.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.23% of the stock is currently owned by 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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