Courage Capital Management Exits Position in Helmerich & Payne (HP)

Helmerich & Payne (HP) : Courage Capital Management has sold out all of its stake in Helmerich & Payne during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 23,769 shares of Helmerich & Payne which is valued at $1.4 Million.

Other Hedge Funds, Including , Quadrature Capital Ltd sold out all of its stake in HP during the most recent quarter. The investment firm sold 21,352 shares of HP which is valued $1.2 Million. 1832 Asset Management sold out all of its stake in HP during the most recent quarter. The investment firm sold 135 shares of HP which is valued $7,841. Martin Investment Management sold out all of its stake in HP during the most recent quarter. The investment firm sold 237,769 shares of HP which is valued $13.8 Million.Td Asset Management Inc reduced its stake in HP by selling 2,635 shares or 3.28% in the most recent quarter. The Hedge Fund company now holds 77,669 shares of HP which is valued at $4.7 Million. Helmerich & Payne makes up approx 0.01% of Td Asset Management Inc’s portfolio.Rhumbline Advisers reduced its stake in HP by selling 50,991 shares or 25.45% in the most recent quarter. The Hedge Fund company now holds 149,347 shares of HP which is valued at $9.1 Million. Helmerich & Payne makes up approx 0.03% of Rhumbline Advisers’s portfolio.

Helmerich & Payne opened for trading at $59.24 and hit $60.96 on the upside on Wednesday, eventually ending the session at $60.38, with a gain of 3.16% or 1.85 points. The heightened volatility saw the trading volume jump to 12,88,960 shares. Company has a market cap of $6,523 M.

On the company’s financial health, Helmerich & Payne reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.43 according to the earnings call on May 2, 2016. Analyst had a consensus of $-0.24. The company had revenue of $438.00 million for the quarter, compared to analysts expectations of $407.10 million. The company’s revenue was down -50.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Helmerich & Payne. Company shares were Reiterated by Cowen on May 3, 2016 to “Market Perform”, Firm has raised the Price Target to $ 58 from a previous price target of $54 .Helmerich & Payne was Downgraded by Scotia Howard Weil to ” Sector Perform” on May 3, 2016. FBR Capital Downgraded Helmerich & Payne on Apr 29, 2016 to ” Mkt Perform”, Price Target of the shares are set at $66.

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 business segments: U.S. Land Offshore and International Land. Its U.S. Land segment operates drilling operations in Oklahoma California Texas Wyoming Colorado Louisiana Mississippi Pennsylvania Ohio Utah New Mexico Montana North Dakota West Virginia and Nevada. Its offshore operations are conducted in the Gulf of Mexico and Equatorial Guinea. Its International Land segment operates in seven international locations including Ecuador Colombia Argentina Tunisia Bahrain the United Arab Emirates and Mozambique. 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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