Helmerich & Payne (NYSE:HP) Posts Quarterly Earnings Results, Misses Estimates By $0.63 EPS

Helmerich & Payne (NYSE:HP - Get Free Report) released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63), Zacks reports. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $961.03 million. During the same quarter last year, the firm posted $0.84 EPS. Helmerich & Payne's revenue for the quarter was up 47.7% on a year-over-year basis.

Helmerich & Payne Stock Performance

NYSE HP traded down $0.25 during trading hours on Wednesday, hitting $18.87. The company's stock had a trading volume of 993,736 shares, compared to its average volume of 1,551,068. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The company's 50 day simple moving average is $21.96 and its two-hundred day simple moving average is $28.63. Helmerich & Payne has a 12 month low of $17.60 and a 12 month high of $42.60. The company has a market cap of $1.88 billion, a P/E ratio of 6.21, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.30%. Helmerich & Payne's payout ratio is 45.66%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HP. Susquehanna reduced their price target on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Evercore ISI restated an "in-line" rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. StockNews.com lowered shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Citigroup decreased their price target on shares of Helmerich & Payne from $32.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Morgan Stanley restated an "underweight" rating and set a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $30.10.

Helmerich & Payne Company Profile

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.