Helmerich & Payne, Inc. (NYSE:HP - Free Report) - Investment analysts at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Helmerich & Payne in a research note issued on Friday, May 3rd. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings of $0.76 per share for the quarter, down from their prior estimate of $0.85. The consensus estimate for Helmerich & Payne's current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Helmerich & Payne's Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.37 EPS and Q1 2026 earnings at $0.67 EPS.
Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $687.94 million for the quarter, compared to analysts' expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The business's quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share.
A number of other brokerages have also issued reports on HP. Royal Bank of Canada upped their target price on Helmerich & Payne from $46.00 to $48.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 31st. Piper Sandler reduced their price objective on shares of Helmerich & Payne from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Monday. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Barclays cut shares of Helmerich & Payne from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Finally, Susquehanna lowered their price objective on Helmerich & Payne from $52.00 to $50.00 and set a "positive" rating for the company in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Helmerich & Payne currently has a consensus rating of "Hold" and a consensus price target of $42.00.
Get Our Latest Stock Report on Helmerich & Payne
Helmerich & Payne Stock Down 0.1 %
Shares of HP traded down $0.02 during mid-day trading on Monday, reaching $38.45. 806,082 shares of the stock traded hands, compared to its average volume of 1,300,534. The stock has a fifty day simple moving average of $40.77 and a 200 day simple moving average of $38.51. Helmerich & Payne has a 12-month low of $30.41 and a 12-month high of $46.55. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.85 and a beta of 1.51.
Institutional Trading of Helmerich & Payne
A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in Helmerich & Payne by 13,372.8% during the third quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company's stock worth $101,958,000 after acquiring an additional 2,400,414 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Helmerich & Payne by 130.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company's stock worth $98,535,000 after purchasing an additional 1,541,987 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Helmerich & Payne by 937.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company's stock worth $30,487,000 after buying an additional 760,554 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Helmerich & Payne by 497.3% during the fourth quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company's stock worth $32,131,000 after purchasing an additional 738,594 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Helmerich & Payne by 11,750.0% during the fourth quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company's stock valued at $20,602,000 after purchasing an additional 564,000 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the company's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Mark W. Smith sold 16,000 shares of the company's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the completion of the sale, the chief financial officer now owns 144,870 shares of the company's stock, valued at $5,865,786.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now owns 137,764 shares of the company's stock, valued at approximately $5,540,868.08. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company's stock.
Helmerich & Payne Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne's payout ratio is 28.57%.
About Helmerich & Payne
(
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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.
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