Helmerich & Payne (NYSE:HP) Announces Earnings Results

Helmerich & Payne (NYSE:HP) released its quarterly earnings data on Wednesday. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15, Briefing.com reports. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same period in the prior year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year.

Helmerich & Payne Trading Up 8.8 %

NYSE:HP traded up $3.33 on Thursday, hitting $41.08. 5,644,994 shares of the stock were exchanged, compared to its average volume of 1,267,590. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16. Helmerich & Payne has a 52 week low of $32.17 and a 52 week high of $46.55. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 4.19 and a beta of 1.47. The company’s 50-day moving average price is $36.46 and its 200 day moving average price is $38.11.

Helmerich & Payne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. Helmerich & Payne’s payout ratio is 28.57%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Citigroup raised their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Bank of America reduced their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday. Finally, Piper Sandler cut their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.63.

Insider Activity

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction on 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 sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was 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 directly owns 144,870 shares of the company’s stock, valued at approximately $5,865,786.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following 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. Insiders own 4.38% of the company’s stock.

About Helmerich & Payne

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.