Zacks Research Analysts Reduce Earnings Estimates for Helmerich & Payne, Inc. (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Zacks Research decreased their Q3 2024 earnings estimates for shares of Helmerich & Payne in a report issued on Friday, May 3rd. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn $0.76 per share for the quarter, down from their prior estimate of $0.85. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.37 EPS and Q1 2026 earnings at $0.67 EPS.

Other equities analysts have also recently issued research reports about the company. Barclays cut Helmerich & Payne from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Friday, January 12th. Citigroup lifted their price target on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada upped their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus target price of $42.63.

Helmerich & Payne Stock Up 1.7 %

Shares of Helmerich & Payne stock opened at $38.47 on Monday. The business has a fifty day simple moving average of $40.77 and a 200 day simple moving average of $38.55. The stock has a market cap of $3.80 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. Helmerich & Payne has a 12 month low of $30.41 and a 12 month high of $46.55.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business had revenue of $687.94 million for the quarter, compared to the consensus estimate of $682.51 million. During the same period last year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.37%. Helmerich & Payne’s payout ratio is 28.57%.

Insider Buying and Selling

In other news, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the completion of the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. Company insiders own 4.38% of the company’s stock.

Hedge Funds Weigh In On Helmerich & Payne

A number of large investors have recently modified their holdings of HP. Principal Securities Inc. bought a new stake in Helmerich & Payne during the fourth quarter worth $35,000. Hexagon Capital Partners LLC increased its stake in shares of Helmerich & Payne by 514.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Helmerich & Payne by 94.9% in the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 595 shares during the period. Creekmur Asset Management LLC acquired a new stake in Helmerich & Payne in the 4th quarter valued at about $60,000. Finally, Lindbrook Capital LLC grew its holdings in Helmerich & Payne by 26.4% during the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 355 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

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.