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

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Wednesday, June 5th, Wall Street Journal reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, August 16th.

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 27.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Helmerich & Payne to earn $3.39 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 29.5%.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $34.09 on Thursday. The stock’s 50 day moving average price is $36.23 and its 200 day moving average price is $38.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 4.19 and a beta of 1.47. Helmerich & Payne has a 12 month low of $32.17 and a 12 month high of $46.55.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne will post 3.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America cut their price target on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th. Royal Bank of Canada raised their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Susquehanna reduced their price objective on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Finally, Piper Sandler cut their target price on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $41.88.

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.