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

Helmerich & Payne (NYSE:HP - Get Free Report) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $961.03 million. During the same period in the previous year, the company posted $0.84 EPS. The business's quarterly revenue was up 47.7% on a year-over-year basis.

Helmerich & Payne Trading Down 0.3%

HP traded down $0.06 during trading on Friday, hitting $18.28. 1,713,775 shares of the company's stock were exchanged, compared to its average volume of 1,546,630. The firm has a market cap of $1.82 billion, a P/E ratio of 6.01, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. 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 $17.60 and a 1 year high of $42.60. The stock has a 50 day moving average price of $22.20 and a 200 day moving average price of $28.80.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.47%. Helmerich & Payne's dividend payout ratio is currently 32.89%.

Insider Activity at Helmerich & Payne

In other news, Director Belgacem Chariag acquired 37,356 shares of the firm's stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Lindsay acquired 20,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the transaction, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. The trade was a 2.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on HP shares. StockNews.com lowered Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Friday. Morgan Stanley reissued an "underweight" rating and issued a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Evercore ISI reissued an "in-line" rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Argus raised Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada dropped their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $31.20.

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.