Destination Wealth Management purchased a new stake in shares of Helmerich & Payne Inc. (NYSE:HP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,000 shares of the company’s stock, valued at approximately $201,000.

Several other large investors have also recently made changes to their positions in HP. Independent Portfolio Consultants Inc. raised its stake in shares of Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock valued at $119,000 after buying an additional 125 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock valued at $124,000 after buying an additional 33 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in shares of Helmerich & Payne during the second quarter valued at approximately $146,000. Invictus RG purchased a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $153,000. Finally, Gardiner Nancy B purchased a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $217,000.

Helmerich & Payne Inc. (NYSE:HP) traded down 0.50% on Monday, reaching $57.32. 1,351,357 shares of the company were exchanged. The firm’s market capitalization is $6.19 billion. Helmerich & Payne Inc. has a 12-month low of $40.02 and a 12-month high of $70.28. The stock has a 50 day moving average of $61.65 and a 200 day moving average of $62.17.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $298.71 million. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The firm’s revenue for the quarter was down 44.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Equities analysts anticipate that Helmerich & Payne Inc. will post ($1.19) EPS for the current year.

Several brokerages have commented on HP. Zacks Investment Research upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Jefferies Group reiterated a “sell” rating and issued a $43.00 price objective (up from $42.00) on shares of Helmerich & Payne in a report on Monday, July 11th. DA Davidson initiated coverage on shares of Helmerich & Payne in a report on Thursday. They issued a “buy” rating and a $72.00 price objective for the company. Citigroup Inc. increased their price objective on shares of Helmerich & Payne from $61.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Finally, Argus cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $60.79.

About Helmerich & Payne

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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