Helmerich & Payne, Inc. Expected to Earn FY2024 Earnings of $3.48 Per Share (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Helmerich & Payne in a research note issued to investors on Monday, September 30th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings of $3.48 per share for the year, up from their previous estimate of $3.47. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.48 per share. Zacks Research also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.75 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.70 EPS, Q2 2026 earnings at $0.69 EPS, Q3 2026 earnings at $0.78 EPS, Q4 2026 earnings at $0.78 EPS and FY2026 earnings at $3.05 EPS.

Several other equities research analysts have also commented on the company. Citigroup cut their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Piper Sandler lowered their target price on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada boosted their target price on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, Bank of America lowered their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $40.88.

Helmerich & Payne Price Performance

NYSE:HP opened at $31.58 on Wednesday. Helmerich & Payne has a 12 month low of $29.46 and a 12 month high of $44.80. The stock has a 50 day moving average of $33.49 and a two-hundred day moving average of $36.76. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.12 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same period in the previous year, the business earned $1.09 EPS. Helmerich & Payne’s quarterly revenue was down 3.6% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HP. William B. Walkup & Associates Inc. purchased a new stake in Helmerich & Payne in the second quarter valued at approximately $1,274,000. Creative Planning increased its stake in shares of Helmerich & Payne by 33.1% during the second quarter. Creative Planning now owns 20,882 shares of the oil and gas company’s stock worth $755,000 after buying an additional 5,196 shares during the period. Algert Global LLC purchased a new stake in shares of Helmerich & Payne during the second quarter worth approximately $359,000. The Manufacturers Life Insurance Company increased its stake in shares of Helmerich & Payne by 15.0% during the second quarter. The Manufacturers Life Insurance Company now owns 984,263 shares of the oil and gas company’s stock worth $35,571,000 after buying an additional 128,372 shares during the period. Finally, Earnest Partners LLC increased its stake in shares of Helmerich & Payne by 15.7% during the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after buying an additional 471,420 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.