Helmerich & Payne (NYSE:HP) Issues Quarterly Earnings Results, Beats Estimates 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 for the quarter, topping the consensus estimate of $0.69 by $0.02, Zacks reports. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%.

Helmerich & Payne Stock Performance

NYSE:HP traded up $0.58 during midday trading 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. The stock has a market cap of $3.34 billion, a P/E ratio of 9.64, a P/E/G ratio of 3.88 and a beta of 1.37. Helmerich & Payne has a 12-month low of $29.46 and a 12-month high of $44.11. The firm has a fifty day simple moving average of $33.45 and a two-hundred day simple moving average of $33.86. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61.

Helmerich & Payne Dividend Announcement

The business also recently declared 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 yield of 3.02%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HP. Barclays dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Evercore ISI restated 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. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Finally, Royal Bank of Canada cut their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.