Helmerich & Payne (NYSE:HP) Releases Earnings Results, Beats Expectations By $0.02 EPS

Helmerich & Payne (NYSE:HP) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02, Zacks reports. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%.

Helmerich & Payne Stock Performance

NYSE HP traded up $0.58 during trading hours on Wednesday, reaching $33.17. The stock had a trading volume of 2,555,629 shares, compared to its average volume of 1,262,039. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The stock has a market cap of $3.34 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 3.88 and a beta of 1.37. The stock has a fifty day moving average of $33.45 and a 200 day moving average of $33.86.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is 29.07%.

Analyst Ratings Changes

HP has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Barclays cut their price target 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. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.50.

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.