Helmerich & Payne, Inc. Plans Quarterly Dividend of $0.25 (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.25 per share by the oil and gas company on Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, February 14th.

Helmerich & Payne has decreased its dividend payment by an average of 19.5% annually over the last three years. Helmerich & Payne has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Helmerich & Payne to earn $3.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.4%.

Helmerich & Payne Trading Down 0.7 %

Shares of NYSE HP traded down $0.24 during midday trading on Friday, reaching $33.59. The stock had a trading volume of 936,845 shares, compared to its average volume of 1,376,366. The company’s 50 day moving average price is $34.65 and its 200 day moving average price is $34.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. Helmerich & Payne has a twelve month low of $29.46 and a twelve month high of $44.11. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, sell-side analysts expect that Helmerich & Payne will post 3.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Citigroup decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada decreased their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. Finally, Barclays dropped their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.57.

Helmerich & Payne Company Profile

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.