Reliance Trust Co. of Delaware reduced its stake in Helmerich & Payne, Inc. (NYSE:HP) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,678 shares of the oil and gas company’s stock after selling 756 shares during the period. Reliance Trust Co. of Delaware’s holdings in Helmerich & Payne were worth $472,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. increased its stake in shares of Helmerich & Payne by 52.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 225,075 shares of the oil and gas company’s stock valued at $12,231,000 after buying an additional 77,520 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Helmerich & Payne by 1.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 21,954 shares of the oil and gas company’s stock valued at $1,193,000 after buying an additional 255 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Helmerich & Payne by 80.1% in the second quarter. Russell Investments Group Ltd. now owns 138,472 shares of the oil and gas company’s stock valued at $7,526,000 after buying an additional 61,565 shares during the last quarter. Vontobel Swiss Wealth Advisors AG increased its stake in shares of Helmerich & Payne by 116.2% in the second quarter. Vontobel Swiss Wealth Advisors AG now owns 10,325 shares of the oil and gas company’s stock valued at $561,000 after buying an additional 5,550 shares during the last quarter. Finally, Greylin Investment Mangement Inc. increased its stake in shares of Helmerich & Payne by 144.1% in the second quarter. Greylin Investment Mangement Inc. now owns 49,865 shares of the oil and gas company’s stock valued at $2,710,000 after buying an additional 29,440 shares during the last quarter.

Shares of Helmerich & Payne, Inc. (NYSE:HP) traded down 0.50% during mid-day trading on Friday, hitting $46.18. 1,659,801 shares of the company’s stock traded hands. The firm has a 50-day moving average of $52.55 and a 200 day moving average of $60.88. The company’s market cap is $5.01 billion. Helmerich & Payne, Inc. has a 52 week low of $46.00 and a 52 week high of $85.78.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. During the same period in the prior year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. Equities research analysts predict that Helmerich & Payne, Inc. will post ($1.32) EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s payout ratio is -167.66%.

COPYRIGHT VIOLATION NOTICE: This news story was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://theolympiareport.com/2017/08/12/reliance-trust-co-of-delaware-reduces-position-in-helmerich-payne-inc-nysehp-updated.html.

Several equities analysts have recently issued reports on HP shares. Cowen and Company reiterated a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a research report on Friday. Evercore ISI reiterated an “in-line” rating and set a $48.00 price target (down from $65.00) on shares of Helmerich & Payne in a research report on Tuesday, August 1st. Iberia Capital cut Helmerich & Payne from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $74.00 to $55.00 in a research report on Monday, July 31st. UBS AG restated a “buy” rating and issued a $60.00 target price (down from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Finally, BidaskClub cut Helmerich & Payne from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.77.

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.

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

Receive News & Ratings for Helmerich & Payne Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.