Brookstone Capital Management acquired a new position in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,231 shares of the oil and gas company’s stock, valued at approximately $284,000.

Several other hedge funds have also recently modified their holdings of HP. Toronto Dominion Bank boosted its stake in shares of Helmerich & Payne by 57.0% in the first quarter. Toronto Dominion Bank now owns 29,291 shares of the oil and gas company’s stock worth $1,950,000 after buying an additional 10,637 shares during the last quarter. Bristlecone Advisors LLC boosted its position in Helmerich & Payne by 2.6% in the first quarter. Bristlecone Advisors LLC now owns 19,180 shares of the oil and gas company’s stock valued at $1,277,000 after buying an additional 495 shares during the last quarter. Smith Asset Management Group LP boosted its position in Helmerich & Payne by 1.0% in the first quarter. Smith Asset Management Group LP now owns 209,207 shares of the oil and gas company’s stock valued at $13,941,000 after buying an additional 2,027 shares during the last quarter. US Bancorp DE boosted its position in Helmerich & Payne by 33.6% in the first quarter. US Bancorp DE now owns 303,054 shares of the oil and gas company’s stock valued at $20,174,000 after buying an additional 76,291 shares during the last quarter. Finally, Denver Investment Advisors LLC boosted its position in Helmerich & Payne by 0.5% in the first quarter. Denver Investment Advisors LLC now owns 26,805 shares of the oil and gas company’s stock valued at $1,784,000 after buying an additional 124 shares during the last quarter.

Shares of Helmerich & Payne, Inc. (NYSE:HP) opened at 43.49 on Tuesday. Helmerich & Payne, Inc. has a 12-month low of $42.77 and a 12-month high of $85.78. The stock has a 50 day moving average of $49.93 and a 200 day moving average of $58.82. The company’s market cap is $4.72 billion.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm had revenue of $498.60 million for the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter last year, the firm posted ($0.20) EPS. The company’s revenue was up 36.0% compared to the same quarter last year. On average, equities analysts expect that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 6.44%. Helmerich & Payne’s payout ratio is currently -167.66%.

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Several equities analysts recently commented on HP shares. UBS AG reiterated a “buy” rating and set a $86.00 target price (down from $91.00) on shares of Helmerich & Payne in a research note on Tuesday, May 2nd. Credit Suisse Group reiterated a “buy” rating and set a $19.00 target price on shares of Helmerich & Payne in a research note on Wednesday, May 24th. Vetr upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Monday, July 10th. Jefferies Group LLC set a $54.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $14.00 target price on shares of Helmerich & Payne in a research note on Monday, May 29th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $56.77.

About Helmerich & Payne

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

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