Helmerich & Payne (NYSE:HP) Issues Earnings Results

Helmerich & Payne (NYSE:HP) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Trading Up 1.8 %

Shares of Helmerich & Payne stock traded up $0.58 during trading hours on Wednesday, reaching $33.17. 2,561,859 shares of the company’s stock were exchanged, compared to its average volume of 1,262,850. Helmerich & Payne has a 52-week low of $29.46 and a 52-week high of $44.11. The company has a fifty day moving average of $33.45 and a 200-day moving average of $33.86. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 3.88 and a beta of 1.37.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 annualized dividend and a yield of 3.02%. Helmerich & Payne’s payout ratio is currently 29.07%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HP. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays lowered their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. 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 for the company in a research report on Friday, November 15th. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Finally, Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.