Helmerich & Payne (NYSE:HP) Issues Earnings Results, Beats Estimates By $0.03 EPS

Helmerich & Payne (NYSE:HPGet Rating) posted its quarterly earnings data on Thursday. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03, Yahoo Finance reports. The business had revenue of $631.33 million during the quarter, compared to the consensus estimate of $597.29 million. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. The company’s revenue was up 83.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.62) earnings per share.

Helmerich & Payne Price Performance

NYSE:HP traded up $1.64 during trading hours on Friday, hitting $53.70. The company’s stock had a trading volume of 1,161,260 shares, compared to its average volume of 1,084,313. The business’s 50-day moving average is $44.97 and its two-hundred day moving average is $44.62. The company has a market capitalization of $5.65 billion, a PE ratio of 1,074.21 and a beta of 1.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.14 and a current ratio of 2.54. Helmerich & Payne has a 52-week low of $20.93 and a 52-week high of $54.59.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, November 14th. Helmerich & Payne’s payout ratio is 2,000.40%.

Analyst Ratings Changes

HP has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Helmerich & Payne from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Friday. Susquehanna increased their price target on Helmerich & Payne from $62.00 to $65.00 and gave the stock a “positive” rating in a report on Friday. Piper Sandler increased their price target on Helmerich & Payne from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley raised Helmerich & Payne from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $48.00 to $55.00 in a report on Monday, September 26th. Finally, TheStreet raised Helmerich & Payne from a “c” rating to a “b-” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.33.

Insiders Place Their Bets

In other news, SVP John R. Bell sold 4,314 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the transaction, the senior vice president now owns 117,395 shares in the company, valued at $5,869,750. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP John R. Bell sold 4,314 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the transaction, the senior vice president now owns 117,395 shares in the company, valued at $5,869,750. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Raymond John Adams III sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $47.50, for a total value of $71,250.00. Following the completion of the transaction, the senior vice president now owns 52,935 shares of the company’s stock, valued at approximately $2,514,412.50. The disclosure for this sale can be found here. 4.35% of the stock is currently owned by company insiders.

Institutional Trading of Helmerich & Payne

A number of large investors have recently made changes to their positions in HP. Captrust Financial Advisors boosted its stake in Helmerich & Payne by 3.5% in the 2nd quarter. Captrust Financial Advisors now owns 13,624 shares of the oil and gas company’s stock worth $587,000 after buying an additional 467 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Helmerich & Payne by 35.3% in the 2nd quarter. Macquarie Group Ltd. now owns 1,936 shares of the oil and gas company’s stock worth $83,000 after buying an additional 505 shares during the last quarter. Brinker Capital Investments LLC boosted its stake in Helmerich & Payne by 4.5% in the 1st quarter. Brinker Capital Investments LLC now owns 16,123 shares of the oil and gas company’s stock worth $690,000 after buying an additional 687 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Helmerich & Payne by 3.9% in the 1st quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 709 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Helmerich & Payne by 4.2% in the 1st quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 743 shares in the last quarter. Institutional investors and hedge funds own 94.61% of the company’s stock.

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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Earnings History for Helmerich & Payne (NYSE:HP)

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