Helmerich & Payne, Inc. (NYSE:HP) to Issue Quarterly Dividend of $0.25

Key Points

• Helmerich & Payne, Inc. declared a quarterly dividend of $0.25 per share, with shareholders of record to be paid on December 2nd, indicating a 5.0% yield.
• The company has a dividend payout ratio of 69.4%, suggesting the dividend is well-covered by earnings, with anticipated future earnings at $3.13 per share.
• Recent analyst ratings have been mixed, with price targets ranging from $17.00 to $24.00, impacting the stock's average rating which is currently "Reduce".

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) announced a quarterly dividend on Tuesday, September 9th, RTT News reports. Stockholders of record on Tuesday, November 18th will be paid a dividend of 0.25 per share by the oil and gas company on Tuesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, November 18th.

Helmerich & Payne has a payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Helmerich & Payne to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 31.9%.

Helmerich & Payne Stock Performance

HP traded up $0.21 during trading on Friday, hitting $21.11. 1,690,486 shares of the company traded hands, compared to its average volume of 1,782,476. The firm has a market cap of $2.10 billion, a P/E ratio of -63.97 and a beta of 0.95. The stock's fifty day moving average is $17.85 and its 200 day moving average is $19.32. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Helmerich & Payne has a one year low of $14.65 and a one year high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm's revenue for the quarter was up 49.2% on a year-over-year basis. As a group, equities analysts predict that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Insider Activity at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the completion of the transaction, the chief accounting officer owned 21,908 shares of the company's stock, valued at approximately $390,619.64. The trade was a 23.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.51% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Helmerich & Payne by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company's stock worth $143,209,000 after purchasing an additional 71,168 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Helmerich & Payne by 28.4% in the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock worth $92,809,000 after buying an additional 786,250 shares in the last quarter. American Century Companies Inc. boosted its stake in Helmerich & Payne by 8.1% in the second quarter. American Century Companies Inc. now owns 3,224,611 shares of the oil and gas company's stock worth $48,885,000 after buying an additional 240,771 shares in the last quarter. Invesco Ltd. grew its position in Helmerich & Payne by 9.5% during the second quarter. Invesco Ltd. now owns 2,959,928 shares of the oil and gas company's stock valued at $44,873,000 after acquiring an additional 255,794 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Helmerich & Payne by 174.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company's stock valued at $30,993,000 after acquiring an additional 1,298,510 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) NYSE: HP is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.