Tufton Capital Management reduced its position in shares of Helmerich & Payne Inc. (NYSE:HP) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,899 shares of the company’s stock after selling 1,189 shares during the period. Tufton Capital Management’s holdings in Helmerich & Payne were worth $3,820,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its stake in Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock worth $124,000 after buying an additional 33 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Helmerich & Payne by 1.1% in the second quarter. Eqis Capital Management Inc. now owns 7,082 shares of the company’s stock worth $475,000 after buying an additional 76 shares in the last quarter. Cue Financial Group Inc. boosted its stake in Helmerich & Payne by 2.2% in the second quarter. Cue Financial Group Inc. now owns 4,556 shares of the company’s stock worth $306,000 after buying an additional 100 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 125 shares in the last quarter. Finally, IBM Retirement Fund boosted its stake in Helmerich & Payne by 1.8% in the second quarter. IBM Retirement Fund now owns 9,814 shares of the company’s stock worth $659,000 after buying an additional 177 shares in the last quarter.

Helmerich & Payne Inc. (NYSE:HP) traded up 4.53% on Wednesday, hitting $59.02. 1,629,901 shares of the company were exchanged. The company’s market capitalization is $6.38 billion. The stock has a 50 day moving average of $61.45 and a 200 day moving average of $62.11. Helmerich & Payne Inc. has a 52 week low of $40.02 and a 52 week high of $70.28.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.06. Helmerich & Payne had a negative net margin of 0.28% and a negative return on equity of 1.38%. The business had revenue of $366.50 million for the quarter, compared to the consensus estimate of $298.71 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was down 44.6% on a year-over-year basis. Analysts predict that Helmerich & Payne Inc. will post ($1.16) EPS for the current fiscal year.

A number of research firms have recently issued reports 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 previously from $42.00) on shares of Helmerich & Payne in a research note on Monday, July 11th. DA Davidson assumed coverage on shares of Helmerich & Payne in a research note on Thursday, September 15th. They issued a “buy” rating and a $72.00 price objective for the company. Citigroup Inc. lifted their price objective on shares of Helmerich & Payne from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Finally, Argus cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. Five 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 issued a strong buy rating to the company’s stock. Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $60.79.

Helmerich & Payne Company Profile

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.

5 Day Chart for NYSE:HP

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