Brokers Offer Predictions for Helmerich & Payne, Inc.’s Q3 2024 Earnings (NYSE:HP)

Helmerich & Payne, Inc. (NYSE:HP) – Equities researchers at Atb Cap Markets cut their Q3 2024 earnings estimates for Helmerich & Payne in a report issued on Tuesday, April 30th. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn $0.76 per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Helmerich & Payne’s current full-year earnings is $3.57 per share. Atb Cap Markets also issued estimates for Helmerich & Payne’s Q4 2024 earnings at $0.78 EPS, Q1 2026 earnings at $1.26 EPS and FY2026 earnings at $4.84 EPS.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The company had revenue of $687.94 million during the quarter, compared to analyst estimates of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. Helmerich & Payne’s revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share.

Several other brokerages have also issued reports on HP. Citigroup boosted their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Susquehanna dropped their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Barclays cut Helmerich & Payne from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $44.00 to $40.00 in a research note on Wednesday, January 10th. Royal Bank of Canada upped their target price on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, The Goldman Sachs Group reduced their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $42.63.

Helmerich & Payne Trading Up 1.7 %

HP opened at $38.48 on Thursday. Helmerich & Payne has a twelve month low of $30.41 and a twelve month high of $46.55. The company has a fifty day moving average of $40.76 and a 200-day moving average of $38.62. The stock has a market cap of $3.80 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.51. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HP. Principal Securities Inc. bought a new stake in Helmerich & Payne during the 4th quarter valued at $35,000. Hexagon Capital Partners LLC raised its stake in shares of Helmerich & Payne by 514.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 787 shares during the period. Whittier Trust Co. lifted its holdings in Helmerich & Payne by 94.9% during the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Helmerich & Payne in the 4th quarter worth about $60,000. Finally, Lindbrook Capital LLC grew its holdings in Helmerich & Payne by 26.4% during the 1st quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 355 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Insiders Place Their Bets

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

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 annualized dividend and a yield of 4.37%. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Helmerich & Payne Company Profile

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.