Bristlecone Advisors adds Helmerich & Payne (HP) to its portfolio

Helmerich & Payne (HP) : Bristlecone Advisors added new position in Helmerich & Payne during the most recent quarter end. The investment management firm now holds 18,985 shares of Helmerich & Payne which is valued at $1,314,901 , the company said in a statement filed on Oct 12, 2016 with the SEC.Helmerich & Payne makes up approximately 0.48% of Bristlecone Advisors’s portfolio.

Other Hedge Funds, Including , Fruth Investment Management reduced its stake in HP by selling 100 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 17,300 shares of HP which is valued at $1,198,198. Helmerich & Payne makes up approx 0.61% of Fruth Investment Management’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in HP in the latest quarter, The investment management firm added 4,553 additional shares and now holds a total of 26,308 shares of Helmerich & Payne which is valued at $1,834,194. Helmerich & Payne makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio. Simplex Trading sold out all of its stake in HP during the most recent quarter. The investment firm sold 17,879 shares of HP which is valued $1,226,142.Eqis Capital Management boosted its stake in HP in the latest quarter, The investment management firm added 4,668 additional shares and now holds a total of 11,750 shares of Helmerich & Payne which is valued at $806,990. Helmerich & Payne makes up approx 0.05% of Eqis Capital Management’s portfolio.

Helmerich & Payne closed down -0.46 points or -0.66% at $69.26 with 13,72,943 shares getting traded on Tuesday. Post opening the session at $69.22, the shares hit an intraday low of $68.35 and an intraday high of $69.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Argus to ” Buy” on Sep 15, 2016. 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 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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