Helmerich & Payne, Inc. Declares Quarterly Dividend of $0.25 (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) declared a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.25 per share by the oil and gas company on Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, February 14th.

Helmerich & Payne has decreased its dividend by an average of 19.5% per year over the last three years. Helmerich & Payne has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Helmerich & Payne to earn $3.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.4%.

Helmerich & Payne Trading Down 0.7 %

NYSE:HP traded down $0.24 on Friday, hitting $33.59. 936,845 shares of the stock were exchanged, compared to its average volume of 1,376,366. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. Helmerich & Payne has a 52 week low of $29.46 and a 52 week high of $44.11. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 4.21 and a beta of 1.39. The company’s 50-day moving average price is $34.67 and its 200 day moving average price is $34.65.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. On average, equities research analysts forecast that Helmerich & Payne will post 3.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HP shares. The Goldman Sachs Group lowered their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Barclays lowered their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Citigroup reduced their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.57.

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.