Helmerich & Payne (NYSE:HP) Issues Quarterly Earnings Results

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

Helmerich & Payne Price Performance

NYSE:HP opened at $53.70 on Friday. The stock has a 50 day moving average of $44.97 and a two-hundred day moving average of $44.62. Helmerich & Payne has a 12 month low of $20.93 and a 12 month high of $54.59. The firm has a market cap of $5.65 billion, a P/E ratio of 1,074.21 and a beta of 1.75. The company has a current ratio of 2.54, a quick ratio of 2.14 and a debt-to-equity ratio of 0.20.

Helmerich & Payne Dividend Announcement

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

Insider Activity

In related news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the sale, the senior vice president now directly owns 117,395 shares in the company, valued at $5,869,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Helmerich & Payne news, SVP Raymond John Adams III sold 1,500 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 52,935 shares in the company, valued at approximately $2,514,412.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP John R. Bell sold 4,314 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the transaction, the senior vice president now directly owns 117,395 shares in the company, valued at $5,869,750. The disclosure for this sale can be found here. Company insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in Helmerich & Payne by 260.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock valued at $50,222,000 after buying an additional 848,198 shares in the last quarter. Invesco Ltd. increased its position in Helmerich & Payne by 157.8% during the first quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after purchasing an additional 767,791 shares during the last quarter. Capital Research Global Investors increased its position in Helmerich & Payne by 83.1% during the first quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after purchasing an additional 579,949 shares during the last quarter. State Street Corp raised its stake in Helmerich & Payne by 6.7% during the first quarter. State Street Corp now owns 4,281,289 shares of the oil and gas company’s stock worth $183,154,000 after purchasing an additional 267,025 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Helmerich & Payne in the 1st quarter valued at about $5,129,000. Institutional investors and hedge funds own 94.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HP. Susquehanna Bancshares lifted their price target on Helmerich & Payne from $62.00 to $65.00 and gave the company a “positive” rating in a research report on Friday. Morgan Stanley raised shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $48.00 to $55.00 in a report on Monday, September 26th. Royal Bank of Canada increased their price target on shares of Helmerich & Payne from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com initiated coverage on shares of Helmerich & Payne in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Susquehanna increased their target price on shares of Helmerich & Payne from $62.00 to $65.00 and gave the stock a “positive” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.33.

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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