Helmerich & Payne, Inc. (NYSE:HP) Traded 9.7% Above Its 50 Day Average

Cornelia Mascio
Settembre 23, 2017

BlackRock Inc. increased its position in shares of Helmerich & Payne by 3,318.2% in the first quarter. (NYSE:HP) has been the object of insider buying activity recently. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 1.22% with $762.10 Million sitting short, betting on future declines.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sentry Investment Management LLC boosted its stake in Helmerich & Payne by 14.9% in the 2nd quarter. As of quarter end Investec Asset Management North America, Inc. had sold a total of 10,285 shares trimming its position 6.7%.

Alliancebernstein L.P. lowered its position in Helmerich & Payne, Inc. Public Employees Retirement System of OH now owns 47,298 shares of the oil and gas company's stock worth $2,570,000 after buying an additional 2,884 shares during the last quarter.

Arosa Capital Management Lp grew its holdings by buying 49,812 shares an increase of 36.1% from 03/31/2017 to 06/30/2017. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company's stock valued at $217,000 after acquiring an additional 100 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Helmerich & Payne by 14.5% during the 2nd quarter. Finally, AlphaMark Advisors LLC raised its stake in Helmerich & Payne by 3.1% during the 2nd quarter. (NYSE:HP) CEO John W. Lindsay acquired 5,000 shares of Helmerich & Payne stock in a transaction that occurred on Tuesday, September 12th. The shares were purchased at an average price of $47.73 per share, with a total value of $238,650.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Has $622.72 Million Holdings in Helmerich & Payne, Inc.

HP has been the topic of several analyst reports. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of US & worldwide copyright legislation. The original version of this news story can be viewed at https://www.truebluetribune.com/2017/09/22/helmerich-payne-inc-hp-shares-sold-by-alliancebernstein-l-p.html. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $53.00 price objective (down from $65.00) on shares of Helmerich & Payne in a research note on Friday, September 8th. The Business's subsidiaries include Helmerich & Payne International Drilling Co. and Helmerich & Payne de Venezuela, C.A.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. Helmerich & Payne presently has a consensus rating of "Hold" and an average price target of $57.32. Zacks Investment Research upgraded shares of Helmerich & Payne from a "sell" rating to a "hold" rating in a report on Thursday, July 13th.

Wells Fargo & Company MN lifted its position in Helmerich & Payne, Inc. (NYSE:HP) recently traded as high as $50.62. Helmerich & Payne, Inc. has a 12-month low of $42.16 and a 12-month high of $85.78.

It is now trading at $50.55 which is a tad above $46.08, the stock's 50 day moving average and which is just under the 200 day moving average of $56.06. The stock's market cap is $5.47 billion. State Street Corp now owns 6,284,704 shares of the oil and gas company's stock worth $418,376,000 after acquiring an additional 357,686 shares in the last quarter. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company had revenue of $498.60 million during the quarter, compared to analysts' expectations of $452.42 million. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne's revenue was up 36.0% compared to the same quarter a year ago. Additionally Helmerich & Payne, Inc. declared a dividend to be paid on Friday the 1st of December 2017. The ex-dividend date will be on Wednesday the 16th of August 2017. This represents a $2.80 annualized dividend and a dividend yield of 5.54%.

Ratings analysis reveals 26% of Helmerich & Payne's analysts are positive.

Helmerich & Payne, Inc.is engaged in contract drilling of gas and oil wells for others. The Firm operates in the contract drilling industry.

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