Helmerich & Payne (NYSE:HP) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Helmerich & Payne (NYSE:HPGet Rating) released its earnings results on Thursday. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03, Yahoo Finance reports. Helmerich & Payne had a negative return on equity of 3.69% and a negative net margin of 6.65%. The firm had revenue of $631.33 million during the quarter, compared to the consensus estimate of $597.29 million. During the same period in the prior year, the firm posted ($0.62) earnings per share. The firm’s revenue for the quarter was up 83.6% compared to the same quarter last year.

Helmerich & Payne Stock Down 2.2 %

Shares of Helmerich & Payne stock opened at $51.77 on Thursday. Helmerich & Payne has a 1 year low of $20.93 and a 1 year high of $54.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.36 and a quick ratio of 2.14. The stock has a 50-day moving average price of $44.61 and a 200 day moving average price of $44.51.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. Helmerich & Payne’s dividend payout ratio is -90.09%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HP. Piper Sandler reaffirmed an “overweight” rating and set a $59.00 target price on shares of Helmerich & Payne in a report on Friday, October 7th. Barclays lifted their price objective on shares of Helmerich & Payne to $58.00 in a research note on Tuesday, August 9th. StockNews.com assumed coverage on shares of Helmerich & Payne in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley upgraded shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $48.00 to $55.00 in a research report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.67.

Insider Buying and Selling at Helmerich & Payne

In other news, SVP John R. Bell sold 4,314 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the sale, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at $5,869,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total transaction of $215,700.00. Following the transaction, the senior vice president now directly owns 117,395 shares in the company, valued at approximately $5,869,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Raymond John Adams III sold 1,500 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total value of $71,250.00. Following the sale, the senior vice president now owns 52,935 shares of the company’s stock, valued at $2,514,412.50. The disclosure for this sale can be found here. Company insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Helmerich & Payne

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Helmerich & Payne by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,891,665 shares of the oil and gas company’s stock valued at $439,634,000 after purchasing an additional 86,545 shares during the last quarter. State Street Corp boosted its stake in shares of Helmerich & Payne by 6.7% during the 1st quarter. State Street Corp now owns 4,281,289 shares of the oil and gas company’s stock worth $183,154,000 after acquiring an additional 267,025 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Helmerich & Payne by 2.0% during the 1st quarter. Northern Trust Corp now owns 1,511,827 shares of the oil and gas company’s stock valued at $64,676,000 after acquiring an additional 29,406 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Helmerich & Payne by 12.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,320,020 shares of the oil and gas company’s stock valued at $56,840,000 after acquiring an additional 146,055 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Helmerich & Payne by 83.1% during the first quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock valued at $54,683,000 after purchasing an additional 579,949 shares during the last quarter. 94.61% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

(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

Earnings History for Helmerich & Payne (NYSE:HP)

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