Helmerich & Payne, Inc. (NYSE:HP) Forecasted to Earn FY2024 Earnings of $3.49 Per Share

Helmerich & Payne, Inc. (NYSE:HP) – Equities research analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of Helmerich & Payne in a research report issued on Tuesday, October 15th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings per share of $3.49 for the year, up from their prior estimate of $3.48. 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 $0.76 EPS.

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

HP has been the subject of several other reports. Bank of America reduced their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Citigroup reduced 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. Royal Bank of Canada raised their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.75.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $34.67 on Wednesday. The stock has a fifty day moving average price of $32.81 and a two-hundred day moving average price of $36.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The firm has a market cap of $3.42 billion, a P/E ratio of 9.91, a PEG ratio of 3.80 and a beta of 1.42. Helmerich & Payne has a 1 year low of $29.46 and a 1 year high of $44.80.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Trading of Helmerich & Payne

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Helmerich & Payne by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock worth $201,543,000 after acquiring an additional 176,179 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Helmerich & Payne by 9.4% during the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after acquiring an additional 327,802 shares in the last quarter. Earnest Partners LLC raised its holdings 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 acquiring an additional 471,420 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Helmerich & Payne by 1.3% during the second quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock worth $80,320,000 after acquiring an additional 27,660 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Helmerich & Payne by 38.1% during the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after acquiring an additional 513,647 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

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.