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

Helmerich & Payne, Inc. (NYSE:HP) announced a quarterly dividend on Wednesday, March 4th. Stockholders of record on Monday, May 18th will be given a dividend of 0.25 per share by the oil and gas company on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th.

Helmerich & Payne has decreased its dividend payment by an average of 0.2%per year over the last three years. Helmerich & Payne has a payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.1%

Shares of NYSE:HP opened at $34.32 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03. The company has a market cap of $3.43 billion, a PE ratio of -10.76 and a beta of 0.54. Helmerich & Payne has a 52 week low of $14.65 and a 52 week high of $36.73. The firm has a 50 day simple moving average of $32.80 and a 200 day simple moving average of $27.33.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The company’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, research analysts expect that Helmerich & Payne will post 2.93 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Morgan Stanley reissued an “underweight” rating and issued a $28.00 price target on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Helmerich & Payne in a research report on Friday, February 6th. Wall Street Zen downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Finally, JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $34.00 in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.20.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.