Helmerich & Payne (NYSE:HP) Posts Earnings Results, Beats Expectations By $0.15 EPS

Helmerich & Payne (NYSE:HP) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.15, Briefing.com reports. The business had revenue of $697.70 million for the quarter, compared to analysts’ expectations of $670.78 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded up $3.33 during trading on Thursday, hitting $41.08. The stock had a trading volume of 5,644,994 shares, compared to its average volume of 1,267,590. The stock’s 50 day moving average is $36.46 and its two-hundred day moving average is $38.11. Helmerich & Payne has a 1 year low of $32.17 and a 1 year high of $46.55. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 4.19 and a beta of 1.47. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Helmerich & Payne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HP shares. Piper Sandler dropped 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. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday. Citigroup upped their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Bank of America dropped their price target on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Susquehanna reduced their price objective on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.63.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the sale, the chief financial officer now owns 144,870 shares in the company, valued at $5,865,786.30. The disclosure for this sale can be found here. Company insiders own 4.38% 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.