Arosa Capital Management Lp adds Helmerich & Payne (HP) to its portfolio

Helmerich & Payne (HP) : Arosa Capital Management Lp added new position in Helmerich & Payne during the most recent quarter end. The investment management firm now holds 848,000 shares of Helmerich & Payne which is valued at $52,465,760 , the company said in a statement filed on Aug 15, 2016 with the SEC.Helmerich & Payne makes up approximately 11.39% of Arosa Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co added HP to its portfolio by purchasing 108,121 company shares during the most recent quarter which is valued at $6,689,446. Helmerich & Payne makes up approx 0.26% of Paloma Partners Management Co’s portfolio.Mackenzie Financial Corp reduced its stake in HP by selling 803,699 shares or 94.13% in the most recent quarter. The Hedge Fund company now holds 50,090 shares of HP which is valued at $3,099,068. Helmerich & Payne makes up approx 0.02% of Mackenzie Financial Corp’s portfolio.Pacad Investment Ltd. boosted its stake in HP in the latest quarter, The investment management firm added 6,647 additional shares and now holds a total of 25,268 shares of Helmerich & Payne which is valued at $1,563,331. Helmerich & Payne makes up approx 0.21% of Pacad Investment Ltd.’s portfolio.Dupont Capital Management Corp boosted its stake in HP in the latest quarter, The investment management firm added 13,258 additional shares and now holds a total of 54,518 shares of Helmerich & Payne which is valued at $3,436,270. Helmerich & Payne makes up approx 0.07% of Dupont Capital Management Corp’s portfolio.National Investment Services Inc Wi reduced its stake in HP by selling 20,525 shares or 43.1% in the most recent quarter. The Hedge Fund company now holds 27,093 shares of HP which is valued at $1,706,046. Helmerich & Payne makes up approx 1.87% of National Investment Services Inc Wi’s portfolio.

Helmerich & Payne closed down -0.16 points or -0.26% at $60.3 with 18,89,428 shares getting traded on Thursday. Post opening the session at $60, the shares hit an intraday low of $59.46 and an intraday high of $60.475 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Helmerich & Payne reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.46. The company had revenue of $366.50 million for the quarter, compared to analysts expectations of $308.09 million. The company’s revenue was down -44.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Helmerich & Payne. Helmerich & Payne was Upgraded by Morgan Stanley to ” Equal-Weight” on Sep 6, 2016. Shares were Reiterated by FBR Capital on Jul 29, 2016 to “Mkt Perform” and Lowered the Price Target to $ 58 from a previous price target of $66 .Helmerich & Payne was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Jun 21, 2016.

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 business segments: U.S. Land Offshore and International Land. Its U.S. Land segment operates drilling operations in Oklahoma California Texas Wyoming Colorado Louisiana Mississippi Pennsylvania Ohio Utah New Mexico Montana North Dakota West Virginia and Nevada. Its offshore operations are conducted in the Gulf of Mexico and Equatorial Guinea. Its International Land segment operates in seven international locations including Ecuador Colombia Argentina Tunisia Bahrain the United Arab Emirates and Mozambique. 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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