UPDATE: BMO Capital Markets Reduces Helmerich and Payne's PT

According to a research report published this morning, BMO Capital Markets has decreased Helmerich and Payne's (NYSE: HP) PT from $85 to $80.In the report, BMO Capital Markets commented, "H&P reported diluted Q2/12 EPS of US$1.18, including a US$0.05 after-tax gain from assets sales. Adjusting for these sales, EPS of US$1.13 came in below our estimate and consensus of US$1.22. Consolidated revenues of US$770 million were actually ahead of our estimate of $746 million as U.S. land revenue of US$659 million surpassed our forecast of US$630 million due to higher-than-expected average revenue per day of roughly US$30,700/day versus our forecast of US$29,400/day."BMO Capital Markets maintains its Outperform rating on Helmerich and Payne, which is currently trading at $51.92.