Helmerich & Payne, Inc. Expected to Post Q3 2024 Earnings of $0.86 Per Share (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Zacks Research decreased their Q3 2024 EPS estimates for shares of Helmerich & Payne in a research note issued to investors on Monday, September 4th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn $0.86 per share for the quarter, down from their previous estimate of $0.91. The consensus estimate for Helmerich & Payne’s current full-year earnings is $4.11 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q1 2025 earnings at $0.64 EPS.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.89 by $0.20. Helmerich & Payne had a net margin of 14.14% and a return on equity of 14.98%. The company had revenue of $723.96 million for the quarter, compared to analyst estimates of $702.05 million.

Several other analysts also recently issued reports on the stock. StockNews.com started coverage on shares of Helmerich & Payne in a report on Thursday, August 17th. They set a “buy” rating for the company. Susquehanna decreased their price objective on shares of Helmerich & Payne from $45.00 to $40.00 in a report on Friday, June 2nd. Citigroup upped their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, July 18th. The Goldman Sachs Group upped their price objective on shares of Helmerich & Payne from $33.00 to $37.00 and gave the stock a “sell” rating in a report on Wednesday, August 9th. Finally, Capital One Financial assumed coverage on shares of Helmerich & Payne in a report on Wednesday, June 28th. They issued an “equal weight” rating and a $40.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.09.

Helmerich & Payne Stock Performance

Shares of HP opened at $42.59 on Thursday. The company’s fifty day moving average is $40.76 and its 200-day moving average is $37.43. Helmerich & Payne has a 12 month low of $30.41 and a 12 month high of $54.45. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 11.18 and a beta of 1.72. The company has a quick ratio of 2.06, a current ratio of 2.29 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On Helmerich & Payne

A number of hedge funds have recently made changes to their positions in HP. JPMorgan Chase & Co. increased its position in shares of Helmerich & Payne by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock worth $14,071,000 after purchasing an additional 7,160 shares in the last quarter. Raymond James & Associates increased its position in shares of Helmerich & Payne by 3.9% during the 1st quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock worth $799,000 after purchasing an additional 709 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Helmerich & Payne during the 1st quarter worth about $353,000. HighTower Advisors LLC increased its position in shares of Helmerich & Payne by 4.2% during the 1st quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock worth $799,000 after purchasing an additional 743 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Helmerich & Payne during the 1st quarter worth about $272,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, November 17th. Helmerich & Payne’s payout ratio is 26.25%.

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.