First Midwest Bank Trust Division increased its stake in Helmerich & Payne Inc. (NYSE:HP) by 104.6% during the second quarter, Holdings Channel reports. The fund owned 10,836 shares of the company’s stock after buying an additional 5,540 shares during the period. First Midwest Bank Trust Division’s holdings in Helmerich & Payne were worth $727,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in HP. Independent Portfolio Consultants Inc. raised its position in Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock valued at $119,000 after buying an additional 125 shares during the last quarter. Checchi Capital Advisers LLC raised its position 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 last quarter. Nikko Asset Management Americas Inc. acquired a new position in Helmerich & Payne during the second quarter valued at approximately $146,000. Invictus RG acquired a new position in Helmerich & Payne during the first quarter valued at approximately $153,000. Finally, Destination Wealth Management acquired a new position in Helmerich & Payne during the second quarter valued at approximately $201,000.
Shares of Helmerich & Payne Inc. (NYSE:HP) traded up 0.25% during midday trading on Monday, reaching $67.47. 1,931,957 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $61.21 and its 200 day moving average price is $62.10. The firm’s market capitalization is $7.29 billion. Helmerich & Payne Inc. has a 52-week low of $40.02 and a 52-week high of $70.28.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.06. The firm earned $366.50 million during the quarter, compared to analyst estimates of $298.71 million. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The business’s revenue for the quarter was down 44.6% compared to the same quarter last year. During the same quarter 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) EPS for the current fiscal year.
HP has been the topic of a number of analyst reports. Bank of America Corp. initiated coverage on shares of Helmerich & Payne in a research note on Monday, June 13th. They set a “buy” rating on the stock. Argus reiterated a “buy” rating and set a $72.00 price objective on shares of Helmerich & Payne in a research note on Monday, August 15th. Nomura set a $71.00 price objective on shares of Helmerich & Payne and gave the company a “buy” rating in a research note on Tuesday, August 16th. DA Davidson initiated coverage on shares of Helmerich & Payne in a research note on Thursday, September 15th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $70.00 to $80.00 in a research note on Tuesday, September 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $60.79.
In other Helmerich & Payne 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 value of $597,150.00. Following the sale, the insider now directly 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 is accessible through this hyperlink. 4.23% of the stock is owned by company 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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