Helmerich & Payne Inc. (NYSE:HP) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $69.95 and last traded at $69.72, with a volume of 1,138,850 shares changing hands. The stock had previously closed at $66.17.

HP has been the topic of a number of recent analyst reports. Iberia Capital increased their target price on shares of Helmerich & Payne from $53.00 to $61.00 and gave the company a “sector perform” rating in a research report on Monday, April 4th. Citigroup Inc. decreased their price target on shares of Helmerich & Payne from $62.00 to $61.00 and set a “neutral” rating for the company in a research note on Thursday, May 12th. Howard Weil cut shares of Helmerich & Payne from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, May 3rd. Bank of America Corp. started coverage on shares of Helmerich & Payne in a research note on Monday, June 13th. They set a “buy” rating for the company. Finally, Scotiabank cut shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, May 3rd. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $59.63.

The firm’s 50-day moving average is $64.27 and its 200-day moving average is $57.70. The firm has a market capitalization of $7.54 billion and a PE ratio of 74.63.

Helmerich & Payne (NYSE:HP) last released its earnings results on Monday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.37. The business had revenue of $438 million for the quarter, compared to the consensus estimate of $398.26 million. The firm’s revenue for the quarter was down 50.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. Analysts anticipate that Helmerich & Payne Inc. will post ($1.14) earnings per share for the current fiscal year.

In other news, CEO John W. Lindsay sold 19,000 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $67.37, for a total transaction of $1,280,030.00. Following the completion of the transaction, the chief executive officer now owns 145,512 shares of the company’s stock, valued at $9,803,143.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several institutional investors have recently made changes to their positions in HP. Aberdeen Asset Management PLC UK increased its position in shares of Helmerich & Payne by 28.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 20,701 shares of the company’s stock valued at $1,174,000 after buying an additional 4,525 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Helmerich & Payne by 1.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,495 shares of the company’s stock valued at $1,258,000 after buying an additional 300 shares during the period. Victory Capital Management Inc. increased its position in shares of Helmerich & Payne by 27.4% in the fourth quarter. Victory Capital Management Inc. now owns 23,515 shares of the company’s stock valued at $1,259,000 after buying an additional 5,058 shares during the period. Sawtooth Asset Management Inc. increased its position in shares of Helmerich & Payne by 53,939.1% in the fourth quarter. Sawtooth Asset Management Inc. now owns 24,858 shares of the company’s stock valued at $1,331,000 after buying an additional 24,812 shares during the period. Finally, Comerica Bank increased its position in shares of Helmerich & Payne by 1.5% in the fourth quarter. Comerica Bank now owns 32,396 shares of the company’s stock valued at $1,549,000 after buying an additional 479 shares during the period.

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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