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

Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Zacks Research dropped their Q3 2024 earnings estimates for shares of Helmerich & Payne in a report released on Monday, September 4th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will earn $0.86 per share for the quarter, down from their prior forecast 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.

A number of other brokerages also recently issued reports on HP. Capital One Financial initiated coverage on shares of Helmerich & Payne in a research report on Wednesday, June 28th. They set an “equal weight” rating and a $40.00 price objective on the stock. VNET Group reissued a “maintains” rating on shares of Helmerich & Payne in a research report on Friday, May 19th. Barclays reduced their price objective on shares of Helmerich & Payne from $52.00 to $44.00 in a research report on Thursday, June 8th. Citigroup boosted their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, July 18th. Finally, Piper Sandler boosted their price objective on shares of Helmerich & Payne from $45.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.09.

Helmerich & Payne Trading Up 0.9 %

NYSE:HP opened at $42.59 on Thursday. The company has a quick ratio of 2.06, a current ratio of 2.29 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $40.76 and a 200 day moving average of $37.43. The firm has a market capitalization of $4.23 billion, a P/E ratio of 11.18 and a beta of 1.72. Helmerich & Payne has a 52 week low of $30.41 and a 52 week high of $54.45.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $702.05 million.

Hedge Funds Weigh In On Helmerich & Payne

A number of hedge funds have recently bought and sold shares of HP. Rockefeller Capital Management L.P. boosted its stake in Helmerich & Payne by 221.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 367 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in Helmerich & Payne during the 1st quarter valued at about $31,000. Bessemer Group Inc. lifted its stake in Helmerich & Payne by 331.4% during the 2nd quarter. Bessemer Group Inc. now owns 906 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 696 shares during the period. Quarry LP bought a new position in Helmerich & Payne during the 1st quarter valued at about $43,000. Finally, Coppell Advisory Solutions Corp. bought a new position in Helmerich & Payne during the 4th quarter valued at about $45,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date 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.