Investors Sell Shares of Helmerich & Payne Inc. (HP) on Strength (HP)


Traders sold shares of Helmerich & Payne Inc. (NYSE:HP) on strength during trading on Thursday. $26.66 million flowed into the stock on the tick-up and $44.90 million flowed out of the stock on the tick-down, for a money net flow of $18.24 million out of the stock. Of all equities tracked, Helmerich & Payne had the 0th highest net out-flow for the day. Helmerich & Payne traded up $0.06 for the day and closed at $62.88
HP has been the subject of several research reports. Citigroup Inc. lowered their target price on Helmerich & Payne from $62.00 to $61.00 and set a “neutral” rating for the company in a research note on Thursday, May 12th. Bank of America Corp. initiated coverage on Helmerich & Payne in a research note on Monday, June 13th. They issued a “buy” rating for the company. Credit Suisse Group AG set a $52.00 target price on Helmerich & Payne and gave the company a “sell” rating in a research note on Monday, August 1st. Vetr reissued a “strong-buy” rating on shares of Helmerich & Payne in a research note on Monday, August 22nd. Finally, Goldman Sachs Group Inc. raised Helmerich & Payne to a “hold” rating in a research note on Tuesday, June 21st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $60.11.
The company’s 50-day moving average is $62.67 and its 200-day moving average is $61.84. The stock’s market cap is $6.80 billion.

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Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 28th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. The firm earned $366.50 million during the quarter, compared to the consensus estimate of $298.71 million. During the same period in the previous year, the company posted $0.27 EPS. Helmerich & Payne’s revenue for the quarter was down 44.6% compared to the same quarter last year. On average, analysts expect that Helmerich & Payne Inc. will post ($1.18) EPS for the current fiscal year.
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.

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