Mraz Amerine & Associates Inc. maintained its stake in Helmerich & Payne Inc. (NYSE:HP) during the second quarter, Holdings Channel reports. The fund owned 12,000 shares of the company’s stock at the end of the second quarter. Mraz Amerine & Associates Inc.’s holdings in Helmerich & Payne were worth $806,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Helmerich & Payne during the fourth quarter valued at approximately $63,521,000. Bank of Montreal Can bought a new stake in Helmerich & Payne during the second quarter valued at approximately $55,377,000. 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in Helmerich & Payne by 78.1% in the first quarter. JPMorgan Chase & Co. now owns 432,013 shares of the company’s stock valued at $25,368,000 after buying an additional 189,475 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Helmerich & Payne by 49.4% in the first quarter. M&T Bank Corp now owns 377,736 shares of the company’s stock valued at $22,181,000 after buying an additional 124,901 shares in the last quarter.
Helmerich & Payne Inc. (NYSE:HP) traded down 0.10% during mid-day trading on Monday, hitting $57.53. The stock had a trading volume of 1,477,318 shares. The company has a 50 day moving average price of $61.22 and a 200 day moving average price of $62.06. Helmerich & Payne Inc. has a one year low of $40.02 and a one year high of $70.28. The stock’s market cap is $6.22 billion.
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 return on equity of 1.38% and a negative net margin of 0.28%. The business had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $298.71 million. During the same period last year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was down 44.6% on a year-over-year basis. On average, equities analysts anticipate that Helmerich & Payne Inc. will post ($1.16) EPS for the current year.
HP has been the subject of several recent research reports. Jefferies Group reaffirmed a “sell” rating on shares of Helmerich & Payne in a report on Tuesday, August 30th. Bank of America Corp. initiated coverage on Helmerich & Payne in a report on Monday, June 13th. They issued a “buy” rating for the company. Credit Suisse Group AG set a $52.00 price target on Helmerich & Payne and gave the company a “sell” rating in a report on Monday, August 1st. FBR & Co cut their target price on Helmerich & Payne from $66.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. reissued a “sell” rating and set a $39.00 target price on shares of Helmerich & Payne in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $60.79.
About Helmerich & Payne
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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