Helmerich & Payne Inc. (HP) Stake Decreased by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. cut its stake in Helmerich & Payne Inc. (NYSE:HP) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 504,570 shares of the company’s stock after selling 7,710 shares during the period. Deprince Race & Zollo Inc. owned 0.47% of Helmerich & Payne worth $33,872,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of HP. Checchi Capital Advisers LLC boosted its stake in 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. Eqis Capital Management Inc. boosted its stake in Helmerich & Payne by 1.1% in the second quarter. Eqis Capital Management Inc. now owns 7,082 shares of the company’s stock worth $475,000 after buying an additional 76 shares during the last quarter. Cue Financial Group Inc. boosted its stake in Helmerich & Payne by 2.2% in the second quarter. Cue Financial Group Inc. now owns 4,556 shares of the company’s stock worth $306,000 after buying an additional 100 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 125 shares during the last quarter. Finally, IBM Retirement Fund boosted its stake in Helmerich & Payne by 1.8% in the second quarter. IBM Retirement Fund now owns 9,814 shares of the company’s stock worth $659,000 after buying an additional 177 shares during the last quarter.
Helmerich & Payne Inc. (NYSE:HP) traded up 0.25% on Monday, reaching $67.47. 1,931,957 shares of the company traded hands. Helmerich & Payne Inc. has a 52-week low of $40.02 and a 52-week high of $70.28. The stock has a 50-day moving average of $61.21 and a 200 day moving average of $62.11. The company’s market capitalization is $7.29 billion.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $366.50 million for the quarter, compared to the consensus estimate of $298.71 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was down 44.6% compared to the same quarter last year. On average, equities analysts forecast that Helmerich & Payne Inc. will post ($1.16) EPS for the current year.
Several equities analysts have weighed in on the company. Citigroup Inc. raised their target price on Helmerich & Payne from $61.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Zacks Investment Research upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Jefferies Group restated a “sell” rating and set a $43.00 target price (up from $42.00) on shares of Helmerich & Payne in a report on Monday, July 11th. KeyCorp upgraded Helmerich & Payne from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. upgraded Helmerich & Payne to a “hold” rating in a research note on Tuesday, June 21st. Five investment 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 company currently has a consensus rating of “Hold” and a consensus target price 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 transaction of $597,150.00. Following the transaction, the insider now directly owns 45,666 shares of the company’s stock, valued at $3,029,939.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.23% of the company’s stock.
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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