FY2024 EPS Estimates for Helmerich & Payne, Inc. Boosted by Analyst (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Stock analysts at Zacks Research lifted their FY2024 earnings estimates for Helmerich & Payne in a research report issued to clients and investors on Tuesday, October 15th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will earn $3.49 per share 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.

HP has been the topic of a number of other reports. The Goldman Sachs Group lowered their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Bank of America cut their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Piper Sandler reduced their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.88.

Helmerich & Payne Stock Performance

NYSE:HP opened at $34.07 on Wednesday. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $44.80. The firm has a market capitalization of $3.36 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 3.80 and a beta of 1.42. The firm has a 50-day moving average price of $32.80 and a 200 day moving average price of $36.27. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data 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 business had revenue of $697.70 million for the quarter, compared to analysts’ expectations of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. Helmerich & Payne’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC increased its holdings in shares of Helmerich & Payne by 2.5% in the first quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after acquiring an additional 308 shares in the last quarter. Arizona State Retirement System increased its stake in Helmerich & Payne by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after purchasing an additional 342 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Helmerich & Payne by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock worth $795,000 after buying an additional 513 shares during the period. GAMMA Investing LLC lifted its stake in Helmerich & Payne by 29.2% in the first quarter. GAMMA Investing LLC now owns 2,618 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 592 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is currently 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.