Helmerich & Payne (NYSE:HP) Releases Earnings Results, Misses Expectations By $0.20 EPS

Helmerich & Payne (NYSE:HP) posted its earnings results on Wednesday. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20), FiscalAI reports. Helmerich & Payne had a negative return on equity of 2.34% and a negative net margin of 3.43%.The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year.

Helmerich & Payne Stock Up 0.1%

Helmerich & Payne stock traded up $0.04 during mid-day trading on Friday, hitting $37.10. The company had a trading volume of 406,061 shares, compared to its average volume of 1,391,652. Helmerich & Payne has a 12 month low of $15.94 and a 12 month high of $41.82. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $34.97 and its two-hundred day moving average price is $35.60. The company has a market capitalization of $3.71 billion, a PE ratio of -26.31 and a beta of 0.61.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. Helmerich & Payne’s payout ratio is presently -70.92%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HP. Invesco Ltd. grew its holdings in shares of Helmerich & Payne by 15.5% during the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock valued at $99,477,000 after buying an additional 465,440 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Helmerich & Payne by 20.9% in the fourth quarter. Empowered Funds LLC now owns 447,310 shares of the oil and gas company’s stock worth $12,829,000 after purchasing an additional 77,399 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Helmerich & Payne during the fourth quarter valued at $791,000. nVerses Capital LLC purchased a new position in Helmerich & Payne in the 4th quarter worth about $237,000. Finally, VARCOV Co. bought a new stake in shares of Helmerich & Payne in the fourth quarter worth approximately $1,739,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays upped their target price on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada raised their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Susquehanna boosted their price target on shares of Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a research report on Friday. Citigroup lowered their price objective on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Finally, The Goldman Sachs Group upped their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.20.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.