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

Helmerich & Payne, Inc. (NYSE:HPGet Rating) declared a quarterly dividend on Wednesday, March 2nd, Zacks reports. Shareholders of record on Friday, May 13th will be given a dividend of 0.25 per share by the oil and gas company on Friday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, May 12th.

Helmerich & Payne has decreased its dividend payment by an average of 29.3% annually over the last three years. Helmerich & Payne has a dividend payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Helmerich & Payne to earn $2.09 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 47.8%.

Helmerich & Payne stock opened at $44.68 on Tuesday. Helmerich & Payne has a 12-month low of $20.93 and a 12-month high of $50.89. The company has a quick ratio of 2.21, a current ratio of 2.43 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $44.01 and its two-hundred day moving average price is $34.19. The stock has a market cap of $4.70 billion, a PE ratio of -24.96 and a beta of 1.75.

Helmerich & Payne (NYSE:HPGet Rating) last released its earnings results on Wednesday, April 27th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15. The firm had revenue of $467.60 million for the quarter, compared to analysts’ expectations of $449.63 million. Helmerich & Payne had a negative return on equity of 6.73% and a negative net margin of 12.30%. The business’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.60) earnings per share. As a group, analysts expect that Helmerich & Payne will post -0.5 earnings per share for the current year.

Several brokerages have issued reports on HP. The Goldman Sachs Group boosted their price target on Helmerich & Payne from $36.50 to $41.00 and gave the company a “sell” rating in a research note on Thursday, April 14th. Morgan Stanley upped their price target on Helmerich & Payne from $29.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday, April 11th. Seaport Res Ptn upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note on Monday, March 14th. TheStreet upgraded Helmerich & Payne from a “d+” rating to a “c-” rating in a research note on Monday, February 7th. Finally, Piper Sandler upped their price objective on Helmerich & Payne from $44.00 to $49.00 in a research note on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.92.

In other Helmerich & Payne news, CEO John W. Lindsay sold 9,000 shares of Helmerich & Payne stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $37.50, for a total transaction of $337,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hans Helmerich sold 150,000 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $42.54, for a total value of $6,381,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 161,000 shares of company stock valued at $6,793,440. 4.35% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of Helmerich & Payne by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 150,264 shares of the oil and gas company’s stock worth $3,561,000 after purchasing an additional 2,785 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Helmerich & Payne by 6.5% in the fourth quarter. Deutsche Bank AG now owns 88,531 shares of the oil and gas company’s stock worth $2,098,000 after acquiring an additional 5,404 shares during the period. JustInvest LLC bought a new stake in Helmerich & Payne during the fourth quarter valued at about $211,000. Legal & General Group Plc grew its holdings in Helmerich & Payne by 3.3% during the fourth quarter. Legal & General Group Plc now owns 317,714 shares of the oil and gas company’s stock valued at $7,530,000 after purchasing an additional 10,061 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Helmerich & Payne during the third quarter valued at about $298,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.

About Helmerich & Payne (Get Rating)

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.

See Also

Dividend History for Helmerich & Payne (NYSE:HP)

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