Baltimore Capital Management Inc. acquired a new stake in Helmerich & Payne, Inc. (NYSE:HP) in the first quarter, HoldingsChannel reports. The institutional investor acquired 11,400 shares of the oil and gas company’s stock, valued at approximately $633,000.

Several other institutional investors have also made changes to their positions in HP. Millennium Management LLC raised its holdings in Helmerich & Payne by 3,372.6% during the 4th quarter. Millennium Management LLC now owns 2,322,923 shares of the oil and gas company’s stock valued at $111,361,000 after buying an additional 2,256,030 shares during the last quarter. Norges Bank bought a new stake in Helmerich & Payne during the 4th quarter valued at $45,764,000. Thornburg Investment Management Inc. bought a new stake in Helmerich & Payne during the 4th quarter valued at $23,586,000. Wedge Capital Management L L P NC bought a new stake in Helmerich & Payne during the 1st quarter valued at $17,491,000. Finally, Two Sigma Advisers LP raised its holdings in Helmerich & Payne by 151.1% during the 4th quarter. Two Sigma Advisers LP now owns 493,593 shares of the oil and gas company’s stock valued at $23,663,000 after buying an additional 297,036 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

Shares of NYSE:HP opened at $49.44 on Thursday. Helmerich & Payne, Inc. has a 52-week low of $44.56 and a 52-week high of $73.74. The company has a market capitalization of $5.53 billion, a PE ratio of 353.14 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.80 and a quick ratio of 2.37.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.18. Helmerich & Payne had a return on equity of 2.95% and a net margin of 2.65%. The company had revenue of $720.87 million for the quarter, compared to analyst estimates of $712.29 million. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post 1.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.71 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.84 dividend on an annualized basis and a yield of 5.74%. Helmerich & Payne’s dividend payout ratio (DPR) is 2,028.57%.

A number of research firms recently commented on HP. Piper Jaffray Companies upgraded shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $64.00 to $60.00 in a report on Friday, June 7th. Evercore ISI began coverage on shares of Helmerich & Payne in a report on Thursday, June 6th. They set an “outperform” rating for the company. JPMorgan Chase & Co. set a $69.00 price target on shares of Helmerich & Payne and gave the company a “buy” rating in a report on Wednesday, June 5th. TheStreet lowered shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a report on Tuesday, May 28th. Finally, Zacks Investment Research lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.74.

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About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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

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