John R. Bell Sells 9,000 Shares of Helmerich & Payne Inc. (HP) Stock
Helmerich & Payne Inc. (NYSE:HP) insider John R. Bell sold 9,000 shares of Helmerich & Payne 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 transaction, the insider now directly owns 45,666 shares in the company, valued at approximately $3,029,939.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Helmerich & Payne Inc. (NYSE:HP) opened at 67.30 on Friday. The firm has a 50-day moving average of $61.05 and a 200-day moving average of $62.07. The company’s market capitalization is $7.27 billion. Helmerich & Payne Inc. has a one year low of $40.02 and a one year high of $70.28.
Helmerich & Payne (NYSE:HP) last posted its 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 firm had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $298.71 million. Helmerich & Payne had a negative return on equity of 1.38% and a negative net margin of 0.28%. The firm’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 firm posted $0.27 earnings per share. On average, analysts anticipate that Helmerich & Payne Inc. will post ($1.16) earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased 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 worth $25,368,000 after buying an additional 189,475 shares during the last quarter. Bristlecone Advisors LLC bought a new stake in shares of Helmerich & Payne during the first quarter valued at about $624,000. BlackRock Japan Co. Ltd increased its stake in shares of Helmerich & Payne by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 146,082 shares of the company’s stock valued at $8,578,000 after buying an additional 1,588 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake 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 valued at $159,518,000 after buying an additional 54,145 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of 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 in the last quarter.
Several equities analysts have weighed in on the stock. Citigroup Inc. lifted their price target on shares of Helmerich & Payne from $61.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Jefferies Group reiterated a “sell” rating on shares of Helmerich & Payne in a research report on Tuesday, August 30th. Argus cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. 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 research report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. reiterated a “sell” rating and set a $39.00 price objective on shares of Helmerich & Payne in a research report on Friday, July 29th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.79.
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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