Helmerich & Payne, Inc. (HP) to Issue Quarterly Dividend of $0.25 on August 29th

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, August 29th. This represents a $1.00 annualized dividend and a yield of 5.97%. The ex-dividend date is Friday, August 15th.

Helmerich & Payne has a dividend payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Helmerich & Payne to earn $3.13 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 31.9%.

Helmerich & Payne Trading Up 2.9%

Shares of Helmerich & Payne stock opened at $16.75 on Friday. The firm has a market capitalization of $1.67 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 3.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The company’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $26.39. Helmerich & Payne has a 52-week low of $14.65 and a 52-week high of $42.60.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. During the same period in the previous year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, analysts expect that Helmerich & Payne will post 2.93 EPS for the current year.

Wall Street Analyst Weigh In

HP has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. TD Cowen lowered their target price on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Friday, May 9th. Argus raised shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Susquehanna lowered their target price on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.73.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Helmerich & Payne by 34.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after purchasing an additional 54,758 shares during the last quarter. Empowered Funds LLC raised its position in Helmerich & Payne by 9.9% in the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 852 shares during the last quarter. NewEdge Advisors LLC raised its position in Helmerich & Payne by 39,685.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 34,526 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock worth $1,531,000 after purchasing an additional 3,611 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 4,394 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

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.