Helmerich & Payne (NYSE:HP) Trading Down 10.6% on Disappointing Earnings

Key Points

• Shares of Helmerich & Payne fell 10.6% after the company reported quarterly EPS of ($0.38), missing estimates of ($0.06) and seeing revenue decline ~8.2% year‑over‑year.
• The company declared a quarterly dividend of $0.25 per share (annualized $1.00, ~2.8% yield), payable June 1 with an ex‑dividend date of May 18.
• Analyst coverage is mixed with an average rating of "Hold" and a $37.80 average target, while insiders sold shares (SVP Cara M. Hair sold 58,771 shares) and institutional ownership stands around 96%.

Shares of Helmerich & Payne, Inc. (NYSE:HP - Get Free Report) traded down 10.6% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $35.43 and last traded at $35.6240. 751,248 shares were traded during trading, a decline of 51% from the average session volume of 1,532,148 shares. The stock had previously closed at $39.83.

The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm's quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Helmerich & Payne's dividend payout ratio (DPR) is presently -31.35%.

Analysts Set New Price Targets

Several research firms have issued reports on HP. Morgan Stanley raised their target price on Helmerich & Payne from $30.00 to $35.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 15th. Royal Bank Of Canada boosted their price target on shares of Helmerich & Payne from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, February 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Susquehanna boosted their target price on Helmerich & Payne from $40.00 to $42.00 and gave the company a "positive" rating in a research report on Tuesday, April 7th. Finally, TD Cowen boosted their target price on Helmerich & Payne from $35.00 to $38.00 and gave the company a "hold" rating in a research report on Monday, February 9th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $37.80.

Insider Buying and Selling

In related news, SVP Cara M. Hair sold 58,771 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company's stock, valued at $6,430,069.18. The trade was a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Helmerich & Payne Trading Down 10.4%

The company has a 50-day moving average price of $35.87 and a 200-day moving average price of $31.89. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -11.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.

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