Helmerich & Payne, Inc. (NYSE:HP) Plans $0.25 Quarterly Dividend

Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) declared a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Friday, August 15th.

Helmerich & Payne has a dividend payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 2.9%

NYSE HP traded up $0.47 on Friday, reaching $16.75. The stock had a trading volume of 2,717,377 shares, compared to its average volume of 1,656,592. The business has a 50 day moving average price of $18.63 and a 200 day moving average price of $26.39. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne has a 1 year low of $14.65 and a 1 year high of $42.60. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 3.52 and a beta of 0.83.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $961.03 million. During the same quarter last year, the firm earned $0.84 EPS. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, analysts forecast that Helmerich & Payne will post 2.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Helmerich & Payne

Several large investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock worth $5,575,000 after purchasing an additional 54,758 shares during the last quarter. Empowered Funds LLC raised its holdings in Helmerich & Payne by 9.9% in the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after acquiring an additional 852 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Helmerich & Payne by 39,685.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock valued at $904,000 after acquiring an additional 34,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company's stock valued at $1,531,000 after acquiring an additional 3,611 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock valued at $2,721,000 after acquiring an additional 4,394 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Argus upgraded Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Barclays decreased their price target on Helmerich & Payne from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. Wall Street Zen downgraded Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group decreased their price target on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price target on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.73.

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.