Helmerich & Payne Inc. (NYSE:HP) insider John R. Bell sold 9,000 shares of Helmerich & Payne stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $66.35, for a total value of $597,150.00. Following the completion of the transaction, the insider now owns 45,666 shares in the company, valued at $3,029,939.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Helmerich & Payne Inc. (NYSE:HP) opened at 67.30 on Friday. The firm’s 50-day moving average price is $61.05 and its 200-day moving average price is $62.07. Helmerich & Payne Inc. has a 12-month low of $40.02 and a 12-month high of $70.28. The company’s market cap is $7.27 billion.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. The company earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. Helmerich & Payne’s quarterly revenue was down 44.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. Equities research analysts forecast that Helmerich & Payne Inc. will post ($1.16) earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Citigroup Inc. lifted their price objective on Helmerich & Payne from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Jefferies Group reiterated a “sell” rating on shares of Helmerich & Payne in a research note on Tuesday, August 30th. Argus lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. KeyCorp upgraded 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, JPMorgan Chase & Co. restated a “sell” rating and set a $39.00 price target on shares of Helmerich & Payne in a research note on Friday, July 29th. Five 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 issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $60.79.
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Helmerich & Payne by 7.0% in the first quarter. Geode Capital Management LLC now owns 927,146 shares of the company’s stock worth $54,337,000 after buying an additional 60,417 shares during the last quarter. BB&T Securities LLC bought a new position in shares of Helmerich & Payne during the second quarter worth approximately $331,000. Investec Asset Management North America Inc. raised its position in shares of Helmerich & Payne by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 10,076 shares of the company’s stock worth $592,000 after buying an additional 2,885 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 worth $159,518,000 after buying an additional 54,145 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of 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 during the last quarter.
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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