Shares of Helmerich & Payne Inc. (NYSE:HP) hit a new 52-week high during mid-day 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 research analyst reports. JPMorgan Chase & Co. lowered Helmerich & Payne from a “neutral” rating to an “underweight” rating and cut their target price for the company from $43.00 to $39.00 in a research report on Friday, April 15th. Morgan Stanley lowered Helmerich & Payne from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $50.00 to $55.00 in a research report on Thursday, March 17th. Howard Weil boosted their target price on Helmerich & Payne to $65.00 in a research report on Monday, March 28th. Iberia Capital boosted their target price on Helmerich & Payne from $53.00 to $61.00 and gave the company a “sector perform” rating in a research report on Monday, April 4th. Finally, Citigroup Inc. boosted their target price on Helmerich & Payne from $50.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, March 18th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $59.99.

The company has a market capitalization of $7.42 billion and a P/E ratio of 73.50. The stock’s 50-day moving average price is $64.91 and its 200 day moving average price is $57.87.

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

In other news, CEO John W. Lindsay sold 19,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 145,512 shares in the company, valued at $9,803,143.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of hedge funds and institutional investors recently made changes to their positions in the stock. 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 worth $1,174,000 after buying an additional 4,525 shares during the last quarter. 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 worth $1,258,000 after buying an additional 300 shares during the last quarter. 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 worth $1,259,000 after buying an additional 5,058 shares during the last quarter. 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 worth $1,331,000 after buying an additional 24,812 shares during the last quarter. Finally, GAM Holding AG increased its position in shares of Helmerich & Payne by 138.7% in the fourth quarter. GAM Holding AG now owns 30,820 shares of the company’s stock worth $1,650,000 after buying an additional 17,911 shares during the last quarter.

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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