Zacks Research Issues Optimistic Forecast for HP Earnings

Key Points

• Zacks Research raised its Q1 2028 EPS estimate for Helmerich & Payne to a loss of $0.38 per share from a prior estimate of $0.39, while the full-year consensus forecast remains a loss of $0.18 per share.
• Analyst opinions remain mixed: five rate the stock a Buy, four a Hold and two a Sell, resulting in a consensus “Hold” rating and an average price target of $43.10.
• HP’s latest quarter missed earnings expectations, reporting a $0.11 per-share loss versus a projected $0.09 profit, although revenue of $1.03 billion exceeded forecasts. Insiders have sold roughly $4.86 million of stock over the past 90 days, while institutional investors own 96.05% of shares.

Helmerich & Payne, Inc. (NYSE:HP - Free Report) - Equities researchers at Zacks Research lifted their Q1 2028 EPS estimates for Helmerich & Payne in a report released on Monday, September 14th. Zacks Research analyst Team now anticipates that the oil and gas company will post earnings of ($0.38) per share for the quarter, up from their prior estimate of ($0.39). The consensus estimate for Helmerich & Payne's current full-year earnings is ($0.18) per share.

Other analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Helmerich & Payne from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Susquehanna increased their price objective on Helmerich & Payne from $40.00 to $44.00 and gave the stock a "positive" rating in a research note on Friday, August 7th. Weiss Ratings downgraded Helmerich & Payne from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, August 27th. Barclays lifted their target price on Helmerich & Payne from $47.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada upped their target price on Helmerich & Payne from $44.00 to $49.00 and gave the stock a "sector perform" rating in a report on Thursday, September 10th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of "Hold" and an average price target of $43.10.

Helmerich & Payne Price Performance

Shares of HP stock opened at $43.46 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. The company has a market capitalization of $4.34 billion, a P/E ratio of -30.82 and a beta of 0.66. The company's 50-day simple moving average is $39.31 and its two-hundred day simple moving average is $37.46. Helmerich & Payne has a one year low of $20.32 and a one year high of $48.17.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $987.70 million. During the same period in the prior year, the business earned $0.22 EPS. The company's quarterly revenue was down .6% on a year-over-year basis.

Insider Activity

In related news, CAO Sara Momper sold 5,054 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the transaction, the chief accounting officer owned 16,958 shares of the company's stock, valued at $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Cara M. Hair sold 11,149 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the sale, the senior vice president owned 136,095 shares of the company's stock, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 110,673 shares of company stock worth $4,864,590. Corporate insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Helmerich & Payne during the 2nd quarter valued at $513,336,000. Bank of America Corp DE purchased a new position in Helmerich & Payne during the 2nd quarter worth $43,370,000. Encompass Capital Advisors LLC grew its stake in Helmerich & Payne by 165.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company's stock worth $59,702,000 after buying an additional 1,296,537 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Helmerich & Payne by 217.4% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,526,707 shares of the oil and gas company's stock valued at $49,984,000 after buying an additional 1,045,727 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Helmerich & Payne in the second quarter valued at about $30,606,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

About Helmerich & Payne

Helmerich & Payne, Inc is a contract drilling company that provides land and offshore drilling services to oil and gas exploration and production companies. The company operates drilling rigs and supplies related services used to drill, develop and maintain wells.

H&P's offerings include its FlexRig fleet of high-performance land rigs, directional drilling, automated drilling technologies and rig management services. These capabilities are designed to support horizontal and other complex well programs, particularly in unconventional oil and natural gas basins.

Founded in 1920 by Walter Helmerich and William Payne, the company is headquartered in Tulsa, Oklahoma.

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