Helmerich & Payne (HP) : Oppenheimer Close reduced its stake in Helmerich & Payne by 4.4% during the most recent quarter end. The investment management company now holds a total of 98,075 shares of Helmerich & Payne which is valued at $5.7 Million after selling 4,510 shares in Helmerich & Payne , the firm said in a disclosure report filed with the SEC on May 12, 2016.Helmerich & Payne makes up approximately 5.19% of Oppenheimer Close’s portfolio.
Other Hedge Funds, Including , Artisan Partners Limited Partnership boosted its stake in HP in the latest quarter, The investment management firm added 485,016 additional shares and now holds a total of 1,438,653 shares of Helmerich & Payne which is valued at $83.6 Million. Helmerich & Payne makes up approx 0.17% of Artisan Partners Limited Partnership’s portfolio.California Public Employees Retirement System boosted its stake in HP in the latest quarter, The investment management firm added 8,200 additional shares and now holds a total of 271,000 shares of Helmerich & Payne which is valued at $16.4 Million. Helmerich & Payne makes up approx 0.03% of California Public Employees Retirement System’s portfolio. Hamilton Point Investment Advisors sold out all of its stake in HP during the most recent quarter. The investment firm sold 35,852 shares of HP which is valued $2.2 Million.Tarbox Group reduced its stake in HP by selling 9 shares or 9.68% in the most recent quarter. The Hedge Fund company now holds 84 shares of HP which is valued at $5,554.
Helmerich & Payne opened for trading at $57.66 and hit $59.4 on the upside on Friday, eventually ending the session at $58.81, with a gain of 2.37% or 1.36 points. The heightened volatility saw the trading volume jump to 15,40,412 shares. Company has a market cap of $6,354 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.