Helmerich & Payne (HP) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.26. Analysts had a consensus of $-0.46. The company posted revenue of $366.50 million in the period, compared to analysts expectations of $308.09 million. The company’s revenue was down -44.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Helmerich & Payne. Helmerich & Payne was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Jun 21, 2016. Helmerich & Payne was Downgraded by Credit Suisse to ” Underperform” on Jun 1, 2016. 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 closed down -1.82 points or -2.89% at $61.15 with 25,25,023 shares getting traded on Thursday. Post opening the session at $61.99, the shares hit an intraday low of $60.42 and an intraday high of $63.505 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jun 10, 2016, John W Lindsay (President & CEO) sold 19,000 shares at $67.37 per share price. According to the SEC, on Mar 30, 2016, Juan Pablo Tardio (VP & CFO) sold 12,497 shares at $58.28 per share price. On Mar 22, 2016, Hans Helmerich (director) sold 40,000 shares at $60.88 per share price, according to the Form-4 filing with the securities and exchange commission.
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.